Click to view full size

MINISTER of Finance Davendranath Tancoo promised to speak about the state of the National Insurance Scheme (NIS) run by the National Insurance Board (NIB) in his upcoming national budget presentation, expected to take place in October.

He spoke to Newsday on September 25, the day after Newsday had published a story citing the 11th Actuarial Report on the NIB.

The report suggested that without intervention, the NIS fund is unsustainable, with assets due to be exhausted by 2033-2034, due to an ageing population profile.