More success for SVG’s Social Security system

Reginald Thomas, the National Insurance Services (NIS) longest serving Executive Director, is delighted to report that the Social Security system of St.Vincent and the Grenadines recorded yet another successful year in operation for fiscal year 2004.{{more}}

Thomas, who became the Executive Director in 1994, said this success was evident in several areas including growth in the asset base, improved customer service, enhanced information technology, human resource development, heightened compliance and marketing.

However, he noted that challenges were posed to the institution by falling interest rates and limited domestic investments.

“Notwithstanding, we were able to use our collective wisdom and insight to ensure that our motto “Quality Service and Financial Soundness” maintained pride of place,” said Thomas.

Thomas said the NIS in its 19th year of operation is cognizant of the fact that more persons will qualify for a pension. He added at the same time there is a high incidence of declining birth rates and a decimating working population.

“In an effort to remain viable, sustainable and relevant, we strive to maintain a robust, vibrant and solvent social security system that will meet our obligations in the 21st century and beyond,” said Thomas.

Thomas expresses his sincerest appreciation to all stakeholders. He promised that the Board and staff will continue to collaborate to keep the NIS in the consciousness of the Vincentian population.