The state minister at Prime Minister’s Office Miles Laroda said yesterday that the National Insurance Commission (NIB) intends to track down companies that do not pay employees contributions, lamenting the “disastrous state” of the National Insurance Fund. rice field.
“The last two reports I received from the National Insurance Commission included reports on the business brought to court by the state.
The Insurance Commission for Delinquent Accounts, “said La Roda.
“We encourage employees and employers to keep their contributions up-to-date as the National Insurance Commission will do everything in its power to raise the necessary funding at this time,” he added.
LaRoda was unable to show the number of companies delinquent in donations or the amount unpaid.
He said the company was not consistently fulfilling its obligation to pay contributions.
“I’m worried about seeing dozens of different names every month and make me believe that I have a lot of money to collect,” says La Roda.
He said many of NIB’s actions against businesses stem from complaints by current or former employees who have noticed that deductions have been made for unpaid donations.
NIB’s ability to pay funds has risen several times in recent years due to actuarial reviews prior to predicting the depletion of the Millennium within the first 20 years.
According to the Minister, the latest reviews, which have not yet been released to the public, show that the situation at NIB has not yet improved.
LaRoda said last month that the report said the funds would run out by 2028 unless urgent action was taken.
He said yesterday that the NIB will use all the tools at its disposal to raise funds.
“In the past, I think the National Insurance Commission was aware of the dire state of the fund, especially its pension portion,” Laroda said.
“… 20 years ago, if you said that you would run out of money in 2029, [were] It’s more than 20 years away. Now you are talking about 10.
“People are worried because individuals are now around the age of 60, even on the board itself, due to the growing urgency, hoping to take steps to protect the fund itself. For some people, their national insurance pension will be the only benefit they receive. “
https://thenassauguardian.com/nib-to-get-more-aggressive-with-delinquent-employers/ NIB becomes more aggressive towards delinquent employers