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HomeNewsRegional NewsBarbados PM says NIS funds “safest’ in Gov’t investment

Barbados PM says NIS funds “safest’ in Gov’t investment

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Barbados (Barbados Today) – Prime Minister Mia Mottley has defended Government’s involvement with the National Insurance Scheme (NIS), saying the monies were used to benefit the country.

However, she admitted that the NIS needed to find investment opportunities outside of Barbados so as not to “put all of its eggs in one basket”.

Mottley was responding to recent criticisms that both the Democratic Labour Party (DLP) and the Barbados Labour Party (BLP) administrations had used the NIS as their personal piggy banks.

The critics also suggested that Government was too involved in the NIS and called for the involvement to be limited.

But Mottley explained that with limited options the NIS needed to invest its money, while pointing out that Government was the safest way to do so, while providing some of the highest returns on their investment.

“The bottomline is that the pension funds and the NIS funds represent a pool of savings. If they did not do anything with it, it means that they would not be able to earn from the savings. Remember that their income is not only contributions from what you pay in, but it is also investment returns and therefore, you only have so many things that you can invest in.

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