Heads should roll if the authorities do not fix the actuarial concerns raised in the “damning” report on funds run by the National Insurance Scheme (NIS).
Outspoken Barbadian actuary Charles Herbert said the National Insurance Board (NIB) should be held more accountable to the public in light of documented challenges related to audited statements, investments, administration, governance and contributions owed.
He was responding to the various concerns flagged in the 15th Actuarial Review Of The National Insurance, Unemployment And Severance Funds by consultant actuary Derek Osborne.
Osborne had said that the NIS was being weighed down by excessive Government debt, ineffective administration and deficient governance. There was also the failure to provide timely audited statements as mandated by law. (SC)
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