Sat | Aug 19, 2017

How would you advise government to improve the NIS scheme?

Published:Thursday | July 28, 2016 | 7:00 AM
Cecile Walker Clarke
Rudolph Brown/Photographer Sanya Goffe
Rudolph Brown/Photographer Steve Holland
Rudolph Brown/Photographer Allan Lewis
Rudolph Brown/Photographer Constance Hall
Rudolph Brown/Photographer Angela Fowler
Kerri-Ann Allen Morgan
Rudolph Brown/Photographer Roxanne Forbes
1
2
3
4
5
6
7
8

How would you advise Gov't to improve the NIS scheme?

There have been reports that the National Insurance Scheme seems set to run out of funds and therefore pensioners will be deprived of this economic cover that it now provides. So we called in the experts and asked them to use a one-liner to tell us what advice they would give to the Government to fix it. This is what they said:

Cecile Walker Clarke

Tax Administration Jamaica

I would remove the cap [on NIS] off the $1.5 million and allow the 2.5 per cent to be on your basic salary, or one could increase the rate of contribution from 2.5 per cent to another rate.

Sanya Goffe

Director, Pension Fund

Association of Jamaica

Increase the contribution rate.

Steve Holland

Pension trustee representative

Improve the administration.

Allan Lewis

President, Pension Fund Association of Jamaica

Hire Constance Hall or listen to Constance Hall's recommendation.

Angella Fowler

Pension lawyer, Livingston Alexander and Levy

Enforcement and improvement in governance.

Kerri-Ann Allen Morgan

Attorney-at-law

Increase the contributions and improve governance.

Roxanne Forbes

Tax Administration Jamaica

Enforcement and increase the contribution.

Constance Hall

Actuary

"Encourage, enforce participation in the NIS [as] the NIS is intended to be a mandatory scheme for the whole country.