The Tribune

Floodtide 11 years, 4 months ago

I am abhorred by the alleged actions by both governments for their oversight to the national pension fund as we know it The National Insurance Fund. I am not here to cherry pick one way or the other. My point of view is simply this, the former minister knows, the chairman knows, Mr. Cargill should have know and every right thinking Bahamian knows that the bonuses and salary paid out to the executives were absorbatantly high for a national pension fund in a developing country the size of the Bahamas. The national insurance fund is not a hedge fund or private investment fund that goes out and seek the best talent of money managers in the investment world to invest its money. Mr. Cargill is perhaps a very talented man but if he and other executives want remuneration and bonuses with private industry then National Insurance is not the place for gainful employment to achieve those ends. National Insurance in the long run is simply a pension and social assistance scheme funded by the working class whose longevity and effectiveness thereto is questionable.

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