After extensive consultations and suggestions from expert groups and individual Barbadians, Government will soon be presented with recommendations to reform the National Insurance Scheme (NIS).
Deputy chairman of the NIS Rawdon Adams, who is heading a group of experts advising on the changes, declined to state what measures were in the document which is being drafted because he did not want to “prejudice the result of that”.
He gave the update yesterday during a special edition of Voice Of Barbados’ Down To Brasstacks radio call-in programme under the theme: The Sustainability Of The Caribbean Social Security Systems. It was held as part of the ongoing 32nd Annual Caribbean Actuarial Association Conference at Hilton Barbados.
“The next steps are to submit that to the board of the National Insurance, who will approve it and give it to the minister, and the minister would then forward it on to Cabinet. I think what form it comes out of from Cabinet would be subject to how they view the report and the recommendations,” he said.
However, the aim is to prevent another exercise like this 15 or 20 years down the line. (Nation News)