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Friday, February 3, 2023

2 Director-Generals for NASSIT

HomeAYV News2 Director-Generals for NASSIT

2 Director-Generals for NASSIT

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Hon. Dr. Matthew Teambo, underscored among other things, the functions and operations of NASSIT, noting expansion; huge volume of work; staff strength; collection; processing and payment of benefits to beneficiaries; investment portfolios; monitoring and supervision; thus the need for a second Deputy Director-General to surmount some of the challenges affecting the smooth operations of the Trust. He emphasized that the need for Deputy Director-Generals is recommended by the International Labour Organization as best practice in administering Trusts in Africa.

Members of Parliament on both sides of the aisle commended the amendment as rational, logical and non-controversial, whilst recalling the establishment of NASSIT. However, MPs also raised concerns about NASSIT holding contributions in suspense accounts; instead of individual accounts to enhance retirement benefits such as payment of pensions and gratuities; and also advocated for the Ministry of Labour and Social Security to be relocated to a better structure befitting the status of the Ministry.

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