Despite the numerous challenges faced by the National Social Security Trust (NASSIT) the deputy Director General of the Trust, Gabriella Saccoh, yesterday disclosed that the scheme which has a membership of 129,000 could now boast of “Le 170 billion reserve.”
Highlighting the objectives of the social security scheme and its general impact in his keynote address at the Bishop Brosnahan Memorial hall, Howe Street in Freetown, Mr Saccoh stated that NASSIT “provides compensation for income loss; promotes health and prevents illness, and creates a living condition that will satisfy the general need of the population and the special needs of the elderly, the disabled and children.”
At the workshop, which was organized by the Sierra Leone Employers’ Federation Social Security, Mr Saccoh heightened that it “is very important for the well-being of workers, their families and the entire community.”
“It is a basic human right and a fundamental means of creating social cohesion, thereby helping to ensure social peace and social inclusion. It is an indispensable part of government’s social policy and as an important tool to prevent and alleviate poverty,” he said.
Mr Saccoh drew attention to the Bank Governor’s speech delivered at his annual diner in June, where Dr JB Rogers heightened that “from the macro-economic standpoint the economy has been growing at the rate 5.4 %”, noting that “the indications are the renewal of business confidence, banking sector, credit to business.”
He noted that Dr Rogers congratulated the government for the introduction of the National Social Security Scheme; this Mr Saccoh said the Governor noted, “is in line with positive indicators of the impact in the economy.”
The deputy Director General also disclosed that, “NASSIT will mobilize funds for an effective capital market.”
In his opening remarks earlier the NASSIT Board of Trustees Chairman, Andrew K Kelili stated that what the workshop organizers’ intend “is to collate meaningful ideas for the pending revision of the NASSIT Act.”
He emphasized that, “NASSIT is faced with numerous challenges since its inception,” adding that, “we are however heartened by the fact that despite these challenges, prospect of the future remains bright,” Mr Kelili said.
He went on, “the ideas of such bright prospect can however only be achieved by constant stocktaking and repositioning the Trust to respond to challenges faced in several contexts.”