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NIS owes pensioners an explanation
DEAR EDITOR,
The recent announcement by the National Insurance Scheme that NIS Pension Benefit would be increased from 1st January 2020 is a total affront to the citizens of this country and especially pensioners.
The Pension Benefits Computation as per the NIS stipulates that pensioners should receive not less than 50 percent of the prevailing Public Service Minimum Wage. The Rate of Pension however, must not be less than 50 percent of the existing Public Service Minimum Wage, (copied and paste from NIS website RATE OF BENEFIT).
The Government announced in November 2019 that the Public Service Minimum Wage is increased from $64,200 to $70,000 retroactive from January 2019. Public Servants were paid the increase difference between the old rate and the new rate retroactive from January 2019.
Using the NIS Rule stated above as the basis for Pension Benefit Computation, the increase announced by the NIS that takes effect from January 2020 is totally incorrect and if not rectified would amount to a fraud committed by the NIS on Pensioners.
The effective rate of the Public Service Minimum Wage is 50 percent of $ 70,000 or $ 35,000 per month retroactive from January 2019. Pensioners should be paid the difference between $32,100 that is 50 percent of $ 64,200 the rate that Pensioners were receiving before the announced increase, and $ 35, 000 that is 50 percent of $ 70, 000. The difference of $ 2,900 should be paid retroactive for the 12 months of 2019.
This anomaly was raised with the Supervisor of the Benefits Department and other Officers of the NIS who all said, that is the instruction they received from the top. Can the General Manager or the Public Relations Officer of the NIS explain why there is a deviation from their own rule?
The NIS should not try to finance the deficit shown in their Financial Statements by robbing the poor pensioners of this country.
Concerned Citizen
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