February 26, 2021
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NIB director insists pension fund is ‘actually not in crisis’
NATIONAL Insurance Board Director Dr Tami Francis insisted yesterday that the pension fund “is actually not in crisis” after government warnings and actuarial concerns pointed to deep long-term pressure from a shrinking workforce, rising retiree numbers and demographic decline.
Gov’t agencies ‘defaulted’ on multi-million NIB debts
The National Insurance Board (NIB) has had to contend with two government agencies defaulting on multi-million dollar debts owed to it with one still delinquent at year-end 2022.
NIB unemployment payouts up by 25%
THE National Insurance Board paid roughly $940,000 in unemployment benefits last month, a 25 percent increase compared to its average payouts due to higher contribution rates and seasonal hotel closures.
NIB’s $240m loss at COVID’s peak
COVID-19 has left the National Insurance Board (NIB) facing an “uphill lift” to recovery after plunging the nation’s social security system into a $240m loss at the pandemic’s peak.
NIB chair: We’ll recover $10.8m
The National Insurance Board’s (NIB) chairman yesterday reassured social security beneficiaries it will recover the $10.8m Ministry of Housing loan that was the subject of a scathing auditor’s report.
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