15 years of service to the nation – ’87 – ’02

• January 5, 1987 – January 5, 2002 – NIS celebrates 15 years of service to the nation.

Slogan: We’ve secured you since then, we’ll continue to the end.{{more}}

Prime Minister Gonsalves planted a tree at the site for the new NIS Headquarters. He was assisted by the Chairman (Mr. Lennox Bowman) and the NIS Executive Director (Mr. Reginald Thomas). This was part of the activities to commemorate the 15th anniversary of the NIS.

The Scheme’s financial position:

• As of 31/12/01 the total assets projected was $240 million.

• Net Income for 2001 is projected at 16.8 million.

• Reserves are projected at $183 million.

• There is a fund ratio of 13.9.

2003 Financial Position:

Net Income: $18.9 million.

Reserves: $277.2 million.

Fund Ratio: 16 years.

Bonus Payments for Pensioners 2003 – 2004

(Non-contributory Pensioners and Invalid Pensioners.)