The Tribune

By EARYEL BOWLEG

Tribune Staff Reporter

ebowleg@tribunemedia.net

A FORMER minister says he believes the major issue facing the National Insurance Board (NIB) is the collection of outstanding fees – as well as making certain other businesses and individuals pay their national insurance.

Brensil Rolle, the former Public Service and National Insurance Minister, was speaking after current State Minister with responsibility for NIB Myles Laroda said the government had made a decision concerning the future of the NIB fund.

While Mr Laroda said nothing would be announced yet, it was reported by the Nassau Guardian that a rate increase had been approved to take effect from July 1. Mr Rolle, however, could not say if this was a good time to bring in an increase.

He said: “I can’t say that because I really don’t … have been too far removed from what the actual situation is. What I did say was NIB spent three quarters of a billion dollars in assistance to individuals during the pandemic.

“If you take this three quarters of a billion dollars in assistance alone, during the pandemic and you don’t replace it you have an issue. So I don’t know what steps are being taken to rectify it and do those things and make sure the fund is safe.”

There has also been a debate over possibly increasing the retirement age. Mr Rolle acknowledged that people were against the idea.

He said: “There are many individuals who are presently employed who don’t feel that the retirement age should be done. I think it could be applied to individuals joining the board or individuals joining various companies. A good example of that and, this is critical, a good example of that is at least 16 permanent secretaries have retired in the public service.

“In the public service, the government has hired them, all rehired all of them. That’s an example that the government is sending. The government is saying at 65 you have gone home with all your benefits. But we don’t think if we get rid of you, come back, we’re going to pay you the salary. We’re going to get your pension and salary and in the case of permanent secretaries, their pension is equal to what their salary was. So if that’s the example you’re setting, I mean, you’ve already increased the retirement age with a huge benefit.”

He added: “But from a firm perspective the major issue at the board, I believe, is a collection of outstanding fees, making sure other businesses and companies and individuals pay to national insurance because national insurance benefits all. It is investment that benefits everyone. So people ought not to have any challenge or difficulty paying to the board what is required.”