Head of Public Affairs
at the National Social Security and Insurance Trust (NASSIT), Osman Koroma, has
told newsmen that his institution has exceeded their 2015 target by 155%
increase.
He explained that at the
beginning of every year NASSIT set itself targets and that at the start of 2015
they set themselves a target of Le221billion, adding that as at October 2015
they had collected Le268 billion.
Koroma revealed that
from January to October 2015 NASSIT registered 8,519 institutions, with a
membership of 2,118, adding that as at December 2015 NASSIT had paid 14,227
pensioners the sum of Le4.3 billion and 4,520 government pensioners Le1.7
billion.
He accepted that there
were delayed to pay some pensioners which he said was as a result of incomplete
documentation, inconsistency in the date of birth and date of employment for
civil servant.
“If all these documents
are processed in time it takes fifteen working days for NASSIT to process a retirement
benefit, thirty working days to process a survivor benefits and thirty-five
working days to process a validity benefit,” he said.
NASSIT was established
in 2001 by an Act of Parliament to provide retirement and other benefits to
members and their dependants, with functions to register employers and
employees, collect contribution from members, maintain membership data, issue
statements of account and manage the fund of the Trust by ways of investment.
He said the Trust is a
national pension scheme which is mandatory for persons that have employee and
employer relationship, with the contribution being 5 percent for the employee
and 10 percent for the employer.
He further explained
that NASSIT covers three contingents, the aged, invalidity and death, and pays
old age or retirement benefit, survivors’ benefit and invalidity benefit.
Source: Concord Times
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