Saturday, March 2, 2024

NIS backlog fix

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The National Insurance Scheme (NIS) is taking steps to fix the “unacceptable” backlog of outstanding financial statements.

Though noting that problem predated him and had been an issue for some time, NIS chairman Dr Justin Robinson said yesterday the issue was being “actively addressed” and there would be a dedicated team on the case from tomorrow.

The matter was one of several raised by social security actuary Derek Osborne in the just-released 15th Actuarial Review Of The National Insurance, Unemployment And Severance Funds Of Barbados prepared as at December 31, 2014.

“The Auditor General and the NIS and EY (accounting firm Ernst & Young) have been working together in trying to take forward this process. I have a letter from the Auditor General dated October 24 and he’s really updating us on the way forward,” Robinson said yesterday at the official reopening of the Central Police Station Male Barracks And Gym, a project the NIS funded to the tune of $2.2 million. (YB)

Please read the full story in today’s Daily Nation, or in the eNATION edition.

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