Withdraw the Barbados National Insurance Amendment & Pensions Bills
Withdraw the Barbados National Insurance Amendment & Pensions Bills
The Issue
The People of Barbados will be severely affected by the proposed changes to the National Insurance Scheme. They have noted that last March 2022, the Prime Minister stated that it was her intent to:
1. Make the National Insurance Scheme (NIS) a Statutory Corporation which is more independent from Government by the end of 2022.
2. Recapitalize the NIS.
3. Add a requirement to diversify investments both locally and abroad.
4. Ensure that when private projects SEEK PUBLIC SUPPORT, they give the NIS the choice to invest.
However, the People of Barbados not having been privy to any report on the consultations regarding the National Insurance scheme, not being provided information on the Actuarial Review of the Pension Fund, not having knowledge of the assets of the Scheme or how the tax payers monies are being spent or invested or government’s action to recover funds that are being owed; are now being faced with a Bill that has already passed in the House of Assembly without discussion when this Bill will have profound effects on the lives of the dwindling middle class and all of the persons from the lower echelons of society and Barbadians yet unborn. The Bill is now before the Senate, the step before signing off by the President.
The people have decided to take a stand and demand that:
1. The age of retirement to be at 65.
2. Eligibility remains at 500 contributions.
3. Politicians and citizens to be on par with respect to retirement age.
4. More compliance officers be employed to ensure contributions are paid.
5. Government pays back the money owed to NIS.
6. Government identifies the leaks in the scheme and fix them.
7. Government goes after defaulters.
8. Regular audits are conducted.
9. Systems be put in place whereby the government cannot use the funds.
10. NIS be placed into the Central Government and not under the absolute control of the Minister.
11. Systems be put in place to help microbusinesses file their contributions.
12. That The National Insurance (Amendment) Bill & The Pensions (Miscellaneous Provisions) Bill be withdrawn.
No matter where you are in the world, if you see this petition please sign it to help working class Barbadians to survive.
4,145
The Issue
The People of Barbados will be severely affected by the proposed changes to the National Insurance Scheme. They have noted that last March 2022, the Prime Minister stated that it was her intent to:
1. Make the National Insurance Scheme (NIS) a Statutory Corporation which is more independent from Government by the end of 2022.
2. Recapitalize the NIS.
3. Add a requirement to diversify investments both locally and abroad.
4. Ensure that when private projects SEEK PUBLIC SUPPORT, they give the NIS the choice to invest.
However, the People of Barbados not having been privy to any report on the consultations regarding the National Insurance scheme, not being provided information on the Actuarial Review of the Pension Fund, not having knowledge of the assets of the Scheme or how the tax payers monies are being spent or invested or government’s action to recover funds that are being owed; are now being faced with a Bill that has already passed in the House of Assembly without discussion when this Bill will have profound effects on the lives of the dwindling middle class and all of the persons from the lower echelons of society and Barbadians yet unborn. The Bill is now before the Senate, the step before signing off by the President.
The people have decided to take a stand and demand that:
1. The age of retirement to be at 65.
2. Eligibility remains at 500 contributions.
3. Politicians and citizens to be on par with respect to retirement age.
4. More compliance officers be employed to ensure contributions are paid.
5. Government pays back the money owed to NIS.
6. Government identifies the leaks in the scheme and fix them.
7. Government goes after defaulters.
8. Regular audits are conducted.
9. Systems be put in place whereby the government cannot use the funds.
10. NIS be placed into the Central Government and not under the absolute control of the Minister.
11. Systems be put in place to help microbusinesses file their contributions.
12. That The National Insurance (Amendment) Bill & The Pensions (Miscellaneous Provisions) Bill be withdrawn.
No matter where you are in the world, if you see this petition please sign it to help working class Barbadians to survive.
4,145
The Decision Makers
Petition created on August 3, 2023