NIS should emulate best practices from other jurisdictions

Retired workers in Guyana have for too long been shortchanged by entities such as the National Insurance Scheme (NIS) and Ministry of Education, institutions that can do far better when it comes to rewarding senior citizens who contributed throughout their working lives to keep them viable. NIS requires a worker to make at least 750 contributions in order to receive a pension after reaching 60 years. It does not matter if their records show 749 or 748 contributions since only a onetime grant (many times a pittance) is given in all cases with less than 750 contributions. No flexibility, compassion or adjustment is considered.

To make matters worse, many employers do not submit NIS contributions of workers which they consistently deduct from workers’ wages and some NIS Inspectors are aware of this and do nothing. In other jurisdictions, Belize for example, the Social Security Board (equivalent of NIS) pays a prorated pension to retirees. If you made 200, 300, 400 etc., contributions you are given a monthly pension proportional to your contributions. Why are numerous retirees in Guyana robbed because the requisite ceiling, 750 contributions, cannot be found in NIS records? This procedure needs to be abolished and let the retirees choose whether they prefer a grant or monthly pension.

In the field of education, teachers have to be on the job, retire at 55, before they receive a pension. If you taught for 15, 20 or 25 years and resigned before the retirement age, you do not receive a gratuity, much less a monthly pension. Let the authority check other jurisdictions and emulate best practices in the interest of improving the quality of lives of our senior citizens.