As the Coalitions For Democratic Change (CDC) led government endeavors to improve the lives of Liberians through the implementation of the Pro Poor Agenda for Prosperity and Development (PAPD), one state owned corporation that is making significant strides in ensuring that Liberians employees and pensioners are given befitting and livable retirement package is the National Social Security and welfare Corporation (NASSCORP).
The NASSCORP which is enjoined by Section 89.19 of the 2017 “Act To Repeal Decree NO. 14 Of The People’s Redemption Council of The Armed Forces Of Liberia And To Create A New Chapter 18 Of The Executive Law Establishing The National Social Security And Welfare Corporation Of The Republic Of Liberia” has been conspicuously paying out to aged Liberians retirees and pensioners: retirement pension, invalidity pension and survivors’ lump sum benefits.
According to documents made privy to the Daily Guide Newspaper lump sum benefits that have been dished out to scores of beneficiaries over the years include: widow’s benefit, widower’s benefits and child’s benefits.
The Daily Guide newspaper further established that the NASSSCOPR has also being dolling out other benefits through its Employment Injury Division. These benefits include: death benefit, disablement benefit, funeral grant, medical care and constant attendance allowance.
In Liberia, where it is not common for employees to take up insurance policy for future benefits in the event when they are retired, the NASSCORP’S scheme seems to be doing the trick in providing financial security for pensioners and retirees during their period of retirement.
Moreover, as part of its corporate social responsibilities in line with its welfare regime, NASSCORP has routinely provided financial as well as material support to underprivileged persons, physically challenged, students and people in need from time to time, especially during period of distressed and or national festive seasons.
The national social security entity has also been able to attain these desirable results owing to the premium paid by employees on the one hand and the investment program put in vogue in keeping with Section 89.63 of the Act cited above, on the other. The said Act mandates that “…the Director General shall, within the overall policies established by the Board of Directors, from time to time, invest funds which are not otherwise budgeted for operational purposes of the scheme, in securities issued or guaranteed by the government or in approved financial or similar institutions”,
In straight adherence to Section 89.63 of the Act creating the entity, NASSCORP’S investment portfolio is surging by the year. They include, among other things, the construction of real estate housing units for rental generation, the construction of modern office complex that currently housed the Liberia Revenue Authority at the ELWA junction and the construction of a new state of the art medical center called Jahmale Medical Solutions.
Invariably, these investment initiatives are eventually broadening the income generation and fund raising capacity of NASSCORP thus ensuring that the entity meets its financial and fiduciary responsibilities to retirees, pensioners and their dependents as and when necessary.
Added to all of these is the latest NASSCORP’S investment on 24th Street in Sinkor. That ultra-modern complex has changed the sky line of Sinkor Boulevard and is certainly the envy of that locale.
The Daily Guide also learnt that there are provisions for office space at the rear of the complex which will be rented out to generate more funds for the upkeep of the corporation.
Our reported who visited the new NASSCORP’S headquarters reported that there is an underground parking lot in the compound of the mew headquarters that have beautified the outlook of the Sinkor suburb.