National Insurance Scheme (NIS)

  • National Insurance Scheme (NIS)
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National Insurance Scheme (NIS)

NIS was established on September 29, 1969. The organisation is governed by a Board and the Chief Executive Officer of the organisation is the General Manager who plans, organises and controls the internal administrative polices of the Scheme as a Social Security organisation.

The mission of NIS is to:

  • To establish and maintain a system of Social Security through which enough income is secured to take the place of earnings when such are interrupted by sickness or accident.
  • To provide for retirement through age, sudden death of a breadwinner and to meet exceptional expenses as those concerned with birth and death.
  • To ensure that monies collected which have to be used for future payments are invested in such a manner that the economy of the country would reap maximum benefit.

The National Insurance is governed by the National Insurance and Social Security Act Cap. 36:01. Under this Act the National Insurance Board is accountable to the Minister of Finance and is responsible for:

  • The monitoring of the performance of the National Insurance Scheme.
  • The revision and approval of the organisation’s procedures.

The General Manager of the National Insurance Scheme, under the guidance and supervision of the Board:

  • Relates the Scheme’s activities.
  • Gives an account of the Financial State of the Scheme and the National Insurance Fund.
  • Ensures that the Scheme operates within the policy guidelines emanating from the National Insurance Board.