NIS assurance

Chairman says the agency can make payout

The chairman of the National Insurance Scheme says the NIS can handle the increased unemployment benefit claims that will come as Government’s retrenchment programme begins.

Chairman Dr Justin Robinson says there should be no problem.

The Inter-American Development Bank has cautioned, in its January quarterly bulletin, that Government’s plan to cut 3,000 public sector jobs will see unemployment rising to about 14 per cent.

Those higher unemployment levels could present financial challenges for the NIS, the IDB says.

But Dr Robinson tells Barbados TODAY, while the NIS has had to pay out more unemployment benefits in recent years, it is still financially sound.

The idea behind the Unemployment Fund and Severance Fund is that you build up surpluses in good years and and then when the hit comes you run down those surpluses,” he said.

The Severance Fund has large surpluses. The Unemployment Fund has taken a major hit but at this point it has enough resources to handle the current level of unemployment.”

7 Responses to NIS assurance

  1. Sisi Kitty Greenidge
    Sisi Kitty Greenidge February 3, 2014 at 7:47 am

    uh huh…sure.

    Reply
  2. PhatKat Kalonji
    PhatKat Kalonji February 3, 2014 at 7:53 am

    Yall assurances mean nothing..just so u knw

    Reply
  3. Golden Nugget
    Golden Nugget February 3, 2014 at 7:58 am

    yeah by cutting it to 3 months

    Reply
  4. Angel OfThunder
    Angel OfThunder February 3, 2014 at 8:16 am

    Man wanna don’t pay d people d $$$$ owns to them……

    Reply
  5. Renny Johnson
    Renny Johnson February 3, 2014 at 8:54 am

    Lol, they have to manage or they will get the sack lol

    Reply
  6. David Hall February 3, 2014 at 11:09 am

    I have never heard a government minister or appointee give all the facts on any issue, so am not convinced by these words, show us the books.

    Reply
  7. David E Hall
    David E Hall February 3, 2014 at 2:21 pm

    DLP Operatives seldom if ever tell the truth, and since I consider the godly doctor to be one I will be disbelieving for now.

    Reply

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