THE revealed forensic audit done on the National Insurance Scheme (NIS) continues to identify a troubling period of governance in this country. The way this scheme was managed is akin to the way many other government institutions were managed, i.e. as though they were personal properties and not the people’s. Where NIS remains this country only major safety net for workers (employed and self-employed) all efforts must be made to treat with this audit as a matter of priority.President Granger is correct in this assessment that audits “are guides for corrective action to ensure that there is no reoccurrence and to ensure that in cases where there is culpability, unlawful behaviour that persons could be brought before the court and if they are found guilty of having committed offences they could be punished.”  This statement was made in his last week “Public Interest” programme.
What this nation awaits, as it has with all other forensic audits commissioned by the state and paid for with the taxpayers’ money, is moving beyond making public these reports and acting on the recommendations. These recommendations not only seek to propose remedial action (s) and tightening of systems, but as the president rightly said, acts of culpability should be taken to the court and those found responsible held accountable.
The revelations in the NIS audit, apart from the billions of dollars owning to the scheme by contributors, points to a problem that has characterised past administrations. That is, politicians used the scheme as a cash cow, rewarded friends, and in furtherance of the disreputable public-private partnership policy. The Berbice Bridge is considered public-private partnership.
Minister  of Finance Winston Jordan earlier this year said, “A preliminary analysis [of  forensic audits] indicates that in a number of cases, there were acts of dishonesty and duplicity, mismanagement of resources, opaqueness of transactions and a disregard for basic internal controls, among others.” Revelations in the NIS audit reinforce what the minister spoke of.
In the instance of the millions the Bharrat Jagdeo Cabinet approved to be taken from the NIS to invest in the Berbice Bridge this was met with outcries from the moment the public got wind of the information. Today the NIS needs this money to be placed in an Investment Fund that can bring the needed returns.
Leader of the Opposition Bharrat Jagdeo, under whose presidency this money was invested, last September had this say, “I think it is a good investment.” It cannot be a good investment when at this juncture NIS is being asked to forego the dividend of the money it invested. The nature of NIS and given what it was established to do, any investment that is not judicious, as with the case of the bridge, will ultimately hurt the Scheme and contributors who can be denied their benefits when the time is due.
It is not secret NIS was ensnared in partisan petty politics. In its earlier years it was promoted as an attempt to rob people of their money and persons were dissuaded from honouring their legal obligations by registering and paying contributions.
The currency of NIS to the society is manifested in many forms. It benefits branches- long-term, short-term and industrial – have provided economic relief and assistance to contributors and their dependents. The average retiree today relies on NIS pension to supplement Social Assistance and workplace pension where provided. Sickness Benefit Medical Care to this population post-employment provided the condition existed prior to Old Age and assistance to purchase spectacles contribute in protecting dignity.
For some time now it was known that NIS is in financial trouble and stakeholders have been calling for a national conversation in arresting the problems and making recommendations to this effect. NIS is subject to actuarial review and this ought to be taken seriously, in conjunction with efforts to address debt collection, a judicious Investment Policy, and empowering the management to get the job done.
Where political self-interest in the recent past dictated how the Scheme was treated, or frankly used as a cash cow to carry out government pet projects without regard for the contributors’ money, and where money was squandered as in the instance of a NIS office built as a cost exceeding its value, these unsavoury conducts have to remain in the past, even as the culpable are held to account in a court of law, now.