Tag Archives: NIS

NIS Reserves Projected by IMF to be Exhausted in 2037 – UPP Candidate Craig Harewood Muted by VoB

‘The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global […]

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When Political and Investment Considerations Intersect to Affect the NIS Fund

In response to an an exchange between David of BU and Hal Austin on the NIS Dumps 21 Million Dollars in Apes Hill Development blog, respected Barbadian actuary Walter Blackman responded with a comment deserving of deep thought and rich discussion by Barbadians everywhere – Barbados Underground Hal Austin March 31, 2017 at 11:53 AM […]

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NIS Dumps 21 Million Dollars in Apes Hill Development

The National Insurance Board keeps pumping money into the Apes Hill development project. So far the NIS has invested BDS$25.4 MILLION DOLLARS in what can fairly be described as a highly speculative development project. The NIS Directors led by Chairman of the Board Dr. Justin Robinson (who coincidentally sits on the controversial Central Bank Board) […]

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National Insurance Fund: Dr. Justin Robinson an URGENT Update is Required

This space is created to accommodate comments about the National Insurance Scheme (NIS) of Barbados.  The BU household concedes that the management of the NIS as with any social security fund is a complex matter. It is against this background that Barbadians need to hear the technocrats explaining the status of the NIS fund and […]

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NIS Actuarial Review 2011 – National Discussion Required

The tagline of the National Insurance Scheme is ‘more than a contribution its your life line’. Regrettably the vast majority of Barbadians become concerned about the functioning of the NIS […]

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Understanding the National Insurance Scheme of Barbados (2) – Risks and issues

David September 13, 2015 at 5:07 AM # @Walter Do you want to comment on Minister Denis Kellman’s Facebook status? Where ever you go, in Barbados you will hear the bright classroom students saying “do not mind the MP for St Lucy, he is also talking foolishness.” […]

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Another NIS Glitch Affecting the Vulnerable

Submitted by Anthony Davis

It is our money and we want it now. “This is becoming the urgent plea of many Barbadians to the National Insurance Scheme (NIS), despite an advertisement appearing in the Press that the department is upgrading its system and claims will be delayed. That is little comfort to four despairing young mothers who turned up at the offices of the SATURDAY SUN when their efforts to get some clarity from the NIS about their maternity benefits did not bear any fruitSaturday Sun

My, my, my!

How much more will this “people-centred Government” humiliate the lower echelons of our society? In the 1960s Jimmy Cliff sang: “The rich get richer, and the poor get poorer . . .” This Government is taking us back to the days of slavery – with the difference being that the taxpayers of this country are NOT getting what is theirs. This makes the situation worse, because people have to go cap-in- hand to beg for what is theirs.

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Senior Citizens Affected by National Insurance Glitch and LATE Tax Returns a Possibility

The National Insurance Office wishes to advise customers that a hardware malfunction has severely affected its computer network. As a result, the delivery of all benefits including pensions will be delayed. The NIS technical team has been working consistently to rectify the matter but it is anticipated that it will take about three weeks to […]

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Understanding the NIS of Barbados (1) – Social Characteristics and Basic Structure

Modern Barbados is a society which has evolved from a foundation of slavery. Since 1834, up to the present day, the institution of slavery on the island has been replaced by an overt but complex system of prejudice and discrimination based on colour and perceived class. Putting the “red legs” aside, the perceived lowest class […]

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Concern About the National Insurance Scheme

Submitted by Anthony Davis The National Insurance Scheme is backlogged with sickness benefit claims. Barbados Today has learned that the backlog is resulting in scores of individuals waiting to receive their sickness benefit payments, some as far back as November. And while it is not clear how much longer those persons will have to wait, […]

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Numbers Don’t Lie. People do!

We apologize to Walter Blackman for picking up his submission several days late – David His silver hairs will purchase us a good opinion, and buy men’s voices to commend our deeds. William Shakespeare: Julius Caesar I make reference to a Nation News article dated November 4, 2013, entitled “Numbers don’t lie” and written by […]

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A Country Marking Time

BU was under the impression that the 2013-2014 Estimates debated last week in the Lower House – and which will be rubber stamped in the Upper House this week – was set to be one of the most important parliamentary debates in a post-Independence period. BU makes no apology by stating that many of the […]

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Governor General Elliott Belgrave Picks Tony Marshall BUT Boots Dr. Francis Chandler

BU listened with interest to DJ and others at Voice of Barbados (VOB92.9FM) extending best wishing to Senator Tony Marshall on his appointment to the Upper Chamber of the Barbados Parliament as an Independent Senator. BU on the other hand withholds all plauditory remarks until Tony Marshall shows respect to the public he pretended to […]

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NIS Pension Looms Large

The presentation maybe of interest if we consider the importance of the NIS Scheme’s contribution  to supplementing retirement income.  BU continues to be optimistic that full transparency will engulf the management of the fund to ensure that one day coming soon the audited financials of the NIS Scheme will be made public to encourage the […]

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Did The Nation Talkback Forum Really Meet Its Objective Kaymar?

BU observed the Talkback Forum hosted by the Nation newspaper this week and contrary to Editor in Chief Kaymar Jordan’s pronouncement that it was a success, we beg to disagree. Perhaps she measured success based on the 500 hundred attendees and 1,500 streaming the event (it would be interesting to know how many people streaming […]

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Notes From a Native Son: Fooling Some of the People All the Time

Introduction: Pensions policy has been the most talked-about of all social policies in the late 20th and early 21st centuries. To be now discussing the subject in relation to Barbados is like going back in time, but it is a necessary discussion to have, given the reluctance of decision-makers to even learn the basics of […]

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Sinckler Says It Is Time To Leverage The NIS Fund To Benefit Barbadians

It is a sad day when our politicians should be ‘arguing’ about how to spend/invest NIS Funds. Both political parties have borrowed from the NIS Fund. What is in dispute concerns whether the government has been investing NIS Funds in a manner which will NOT compromise minimum yield expectations. Government’s defence to the charge has […]

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Notes From a Native Son – the NIS: Who Is Killing The Goose That Lays The Golden Egg?

Introduction: According to some reports, the governor of the central bank expressed amazement when a leading credit rating agency reduced the Barbados credit rating to junk status. I am not sure if he was surprised that the agency had the audacity to downgrade Barbados, or that it took them so long to realise that the […]

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