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General Manager of the National Insurance Scheme (NIS) resigns – 8th Jan 2013

There are no clear reasons just yet about why Ms. Nelson handed in her resignation today. She could not be reached for comment.

There are reports that Ms. Nelson was asked to resign over a matter involving a businessman but refused to do so.

Dr. Roger Luncheon, the Head of the Presidential Secretariat, is the chairman of the NIS board. He also could not be reached for comment on Nelson’s resignation. Dr. Luncheon has been ill for a number of weeks and has been out of the public eye. Unions and other groups have been clamouring for the Government to withdraw its influence on the board.

The resignation of General Manager of the NIS follows a recent assessment on the state of the NIS.

An independent analysis of the fund as of last year, said it was nearing a state of crisis and would run out of money in ten years unless there are key reforms and there is an overhaul of the contributions scheme.

The review showed that a Reform Committee which was put in place has failed to do anything in the last five years.

According to the report, in 2011, the fund experienced its first deficit of $371 million and was expected to incur an even larger deficit last year.

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