THE NIS board and management greet this anniversary with pride and quiet determination.

In five decades of operation since its creation in 1969, the National Insurance Scheme has earned a reputation as a quality national institution of Guyana.
Its role in providing short – term, long- term, (pension) and industrial benefits to the working class in Guyana has been discharged consistently and predictably since 1969.
Its contributions to the economy are significant.
The scheme, in discharging its mandate, has impacted on practically every sector of the economy and focuses on contributing to national development.
The adoption of new management tools, including modern technology, has expedited the delivery of NIS services to local communities in all parts of Guyana.
Challenges have been encountered and are being overcome in this decade as the scheme has delivered its mandate.
Highly focused attention on reducing the backlog, expediting claims processing and answering queries has been prioritized in the annual work programme of the scheme.
In the year 2012, the need to maintain the scheme’s financial viability has become even more pressing and it is evident that immediate solutions are necessary.
Expenditure has risen in the face of payments for rising benefits claims, particularly those related to long – term old age pensions. The situation has been compounded by rising commodity prices for goods and services needed by the scheme for its operations.
On the other hand, revenue growth has stalled, lagging behind expenditure growth. Contribution income growth has not occurred adequately and investment income growth by the scheme has not been forthcoming. The continuation of this current dispensation is clearly not an option. Aggressive and immediate reforms are required to enhance growth in revenue and to control expenditure.
This has to be accomplished in the face of adverse demographic changes.
The 8th actuarial review of the scheme’s performance of the period 2007-2011 has been completed. Soon, its findings and recommendations would be presented to stakeholders.
Those findings and recommendations should represent the main focus of attention of all stakeholders who would be expected to contribute constructively to the resolution of the challenges facing the scheme.
The board and management commit to spearheading this entire exercise with the intention of ensuring that the expectations of stakeholders are solicited and accommodated in any new disposition adopted by the Government of Guyana.