Luncheon reports on NIS actuarial review consultations

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THERE was exceptionally low participation in the just ended first phase consultations on the eighth actuarial review of the National Insurance Scheme (NIS), Chairman of the Board, Dr. Roger Luncheon disclosed on Thursday. Speaking at his weekly media briefing in Office of the President, Shiv Chanderpaul Drive, Georgetown, following a Cabinet meeting on Tuesday, he said that target group engagements saw four groups participating – organised labour, the private sector, pensioners and consumers, and parliamentary political parties.
According to him, they were consulted and heard individually and presentations were made by the actuary, Mr. Derek Osborne, with whom there were very fruitful exchanges.
Luncheon informed that the views presented will be shared with the Guyanese public and the NIS Board is planning a second and last phase of consultations, which will be at the county level.
The HPS said Berbice, Essequibo and Demerara stakeholders will gather at a yet to be identified place, date and time to continue the consulting  on the report, which covers the period 2007 to 2011.
He said it is anticipated that subsequent to this last phase of consulations, the Board would be in a position to present, to the Administration, its comprehensive plan on the way forward for NIS to deal with issues surrounding its financial viability and those other matters uncovered in the eighth actuarial report for that period.