Categorized | National News

Govt to Pay $70 Million for Workers’ Insurance

Minister of State for Public Service and National Insurance Brensil Rolle said $70 million will be paid to insurance companies to cover the policies of public officers that were not paid under the Christie administration.

Mr. Rolle revealed this information during his contribution to the debate on the 2017/2018 Budget Communication in the House of Assembly yesterday.

“Days before we came to office our insurance carrier told the government, that they were going to lapse all of the policies.  They knew this.  They knew this just before election that the insurance companies were going to lapse insurances for all government workers that were covered by the government of The Bahamas,” he said.

“But now they claim that they don’t know why we are borrowing this money. Well I can report to the nation that almost $70 million of the borrowing will be paid directly to insurance companies that carry the insurances for the public offices.”

Mr. Rolle said funds were deducted from the officers’ salaries and all the former government had to do was pay their part, but did not.

He said that demonstrates the former government did not have the interest of the Bahamian people at heart.

“The Ministry of Public Service and National Insurance is responsible for the payment of pension and gratuities to those public officers who have earned it through hard work, longevity and loyalty,” he said.

“This line item has long been underfunded and in this fiscal year 2016/2017 was short by $16 million. We hear the outcry of those who professes to put Bahamians first with regard to his government’s borrowing of $722 million.”

The minister said as it stands, NIB serves more than 150,000 Bahamas and pays out in excess of $250 million in pension and other benefits.

Furthermore, more than 35,000 persons currently receive monthly pension payments and last year 25,000 persons received short term benefits from NIB.

Written by Jones Bahamas

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