Latest update January 1st, 2025 1:00 AM
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NIS boss rescinds resignation
One day after she suddenly submitted her resignation, General Manager of the National Insurance Scheme (NIS), Doreen Nelson, is set to resume her duties.
NIS’ General Manager, Doreen Nelson
The NIS boss yesterday withdrew her resignation after reportedly clashing with her Board of Directors on Tuesday over a number of decisions taken at the forum.
A short statement from the government yesterday merely said that Dr. Ashni Singh, Minister of Finance, has “just received and accepted Ms. Doreen Nelson’s letter withdrawing the notice of her resignation as the General Manager” of NIS.
The statement offered no other explanation why Nelson, one of the longest serving employees of the state-owned social fund, resigned.
Government sources said she had refused to carry out directives issued by the Board overtime and during a meeting Tuesday, the matter came to a head and she handed in her resignation.
Well-placed sources said that there were a number of meetings at NIS and with government to find a way out, following her temporary departure.
NIS officials were mum on Tuesday on the issue and its public relations office remained silent.
Nelson had declined comment also.
The resignation would have come at a time when NIS is facing a public discussion for ways in which the fund could increase its revenues if it wants to continue to be profitable.
Dwindling contributions and rising expenditures have prompted a critical, periodical review to warn that the fund could run into serious trouble in less than a decade unless actions are taken immediately to raise its revenue base.
With many pensioners and the country’s workforce depending on NIS for spectacles and other coverage for medical bills, the worry level has been rising for both Government and the population.
A $6B investment in the failed insurance giant, CLICO, has not helped NIS finances.
Despite the billions it has in its reserves, it is non-compliance from a significant part of the workforce to remit their mandatory dues that also has been contributing to the situation.
Government has been keeping a tight hold on NIS with its Chairman being Dr. Roger Luncheon, Cabinet Secretary and Head of the Presidential Secretariat.
The Opposition has called for his sacking.
NIS has investments in the Berbice Bridge, among other places.
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