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NASSIT Strengthens Partnership With Sierra Leone Media

NASSIT Strengthens Partnership With Sierra Leone Media

In a bid to continue its partnership with the media, the National Social Security and Insurance Trust (NASSIT) has on Friday 17th May, 2019, ended a one day press seminar aimed at improving the Trust Scheme.

The Press Seminar which outlined the challenges and successes of the institution was held at the Golden Tulip, Kimbima Essential, Aberdeen in Freetown.

In his PowerPoint Presentation, the Director of Operations, Mr. Amadu Denkey said NASSIT was established on the 1st January 2002 through an Act of Parliament in 2001 with Act (No 5).

Director Amadu said NASSIT has a defined benefit contribution scheme of 10% by employer and 15% by employee from monthly earnings noting that the Trust has its contingencies which covered for old age, invalidity and death. He said the Trust is funded by scale average premium (partial funding) to build a reserved fund.

He added that NASSIT has structure and functions of operations division that is responsible for the registration of establishment and also for the issuance of member’s statements of accounts. He said the Trust is responsible for the Issuance of Clearance Certificates to complying establishments and also for initiation of benefits processing.

The Director of Operation further disclosed that the Trust is currently challenged with inadequate number of inspectors to monitor over 14,700 registered establishments across the country adding that contribution schedules still remains a big challenge for the trust.

He continued that for NASSIT to carry out the stated functions, the Operations Division has integrated four regional offices and other departmental sectors to fast track the running of the Trust. He said Non-Update of members’ records and supply of wrong information by members has always led to inconsistent information at the time of processing benefit claims adding that the Non-completion of validation forms has also create huge challenges for the Operations Division.

The Director of Operations ended by informing the press that those delays in response to letters sent to respective Ministries regarding gaps in contributions of the scheme were also a challenge and that they were going to enforce compliance through the existing national legal system.

In another presentation, the Director of Investment, Dr. Brima Kargbo told participants that NASSIT’s Investment comprises equity companies and their investment details noting that the Investment Department of the Trust was working assiduously to increase revenue mobilizations.

Dr.Kargbo assured the general public of NASSIT’s continuous support to deliver on key investments for the betterment of the state noting that the Trust will continue to invest solidly in a bid to complement government’s effort in rebranding the country’s economy.

Delivering the Benefit Scheme, the Head of Benefit, Edwin M. Kamara updated that NASSIT was encouraging national and private institutions to register their members so that they can be beneficiaries of the scheme noting that documentation for claiming benefit are activities of the Benefit Division.

He urged media institutions and Law firms to register their members and that the Trust is allowing every citizen to have a Social Security Number with complete documentation to avoid deliberate fraud.

Giving the closing remarks, the Acting Director of Public Affairs expressed profound gratitude to participants for raising pertinent issues with regards the development of the Trust.

He assured the press that NASSIT is willing to collaborate firmly with media institutions because according to him, media institutions have played a pivotal role and that NASSIT will not operate without their support.

By Alhassan Bangura                          

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