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Saturday, September 21, 2024

NASSIT, IMC Clarify Pension Scheme

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Sierra Leone’s pension scheme administrator, NASSIT (National Social Security and Insurance Trust) and the country’s media regulator, IMC (Independent Media Commission) have engaged media owners and managers on the NASSIT pension scheme.

Various media institutions (newspapers, radio and TV’s) were represented. The move is to get media stakeholders understand NASSIT’s legal and policy framework with a view to make them compliant with the NASSIT law.

The engagement was borne out of the notion that media institutions are business institutions manned by employers who control employees. Several media and NASSIT officials made several presentations on the laws and policies that are incumbent on media owners to comply.

The training took place at the CCSL (Council of Churches in Sierra Leone) compound in Freetown yesterday.

In his presentation, the Public Relations Officer of NASSIT, Mohamed Bangalie explained about the various categories of pension schemes. He started off his presentation first by indicating that for one to qualify for the normal NASSIT scheme, the worker must have contributed for at least 180 months.

The 180-month period runs across all schemes except where a contingency occurs.

Full retirement, invalidity, retirement grants, survivors’ grant and reduced pension were the schemes identified by the NASSIT PRO.

The full retirement, he said, was meant for those who reached the normal age of retirement which is 60yrs.

Invalidity scheme caters for those who become permanently physically disabled while in public service.

“When a government worker becomes permanently disabled, his capacity to earn has been reduced. The worker is entitled to an invalidity grant as long as he is a member of the trust,” he explained.

Under the survivors’ grant, he went on, the children; wife or dependants of a deceased worker are entitled to a survivors grant in an event death occurs.

“Children of a deceased worker who are in the formal school system are entitled to payment when they fall within the age bracket of 18-23 years,” he said.

A spouse of a deceased worker, he continues, is entitled to 40% while the children get 60% of the earnings.

He further explained that payment of survivors’ grant, to a large extent, depends on the accuracy of the records presented to the Trust.

In the reduced pension scheme, Bangalie said, a  worker who had contributed to the scheme for 180 months and choose to retire before the normal age of 60 is entitled to a NASSIT benefit, but with a 4% reduction in his benefit.

Apart from the categories mentioned above, NASSIT also has a one-off payment scheme of a lump sum for those who fail to meet the 180-month period.

To ensure that undue delays are avoided in the payment of NASSIT benefits to either retired workers or their spouses and children, clear and authentic records should be maintained, and submitted to NASSIT when the need arises.

“Discrepancies in names and dates of birth may cause delays. It also causes one to lose their benefit,” he said.

Bangalie also reminded the participants that the NASSIT pension scheme is a defined scheme that is mandatory and contributory.

He also spoke on the main aim for having NASSIT in place which is to prevent government workers from becoming beggars upon retirement.

Workers, he says, are paid according to what has been enshrined in the law.

The PRO also entreated the workers to ensure that their contributions are paid to the scheme on a monthly basis.

One of the IMC commissioners, Dr Francis Sowa explained the new IMC Act of 2020 and its relationship with the NASSIT Act of 2001.

He said the new IMC Act of 2020 replaced the old law (the IMC Act of 2000 and its amendments).

He said one of the key highlights of the new law is the payment of salaries and other related conditions of service.

The law in question is relevant to the NASSIT discussions since it contains provisions that compel media owners or employers to pay NASSIT contributions for their employees.

Dr Sowa who has been in the commission for six years told participants that payment of NASSIT contribution was not something new.

“When media owners go to the IMC for registration and licensing, they always say they will pay salaries as well as NASSIT contributions to and for their staff,” he said.

In most cases, he went on, media owners and employers would specify sufficient amounts of salaries they promise to pay to the workers.

But, most times, they would never stick to their promises.

Dr Sowa also cited relevant provisions which, he said, journalists had to comply before a licence is granted to them.

He mentioned section 24 of the new IMC Act, 2020, section 12 of the National Revenue Authority Act and section 25 of the Minimum Wage Act, 1997 as amended in the Finance Act of 2018.

The Finance law, he said, had put the minimum wage at Le600, 000 (Six Hundred Thousand Leones) for the least worker either in the private or public sector.

“All these provisions must be complied with before licences are offered to media institutions,” he said.

Apart from the compliance of such provisions of the IMC law, Dr Sowa said the commission would also consider performance of the media institution.

One of the areas under the performance aspect, he said, was that reporters and other staff of a media institution should not report the proprietor or owner of the media outlet about non-payment of salaries and NASSIT contributions.

He called on owners of media institutions to comply with the relevant laws, and run their institutions as businesses entities.

“A media institution should have business and strategic plans and an editorial policy,” he summed it up.

In his opening address, Chairman of the Independent Media Commission, George Koyama said NASSIT as well UBA (United Bank for Africa) hosted media institutions in November with whom they pledged to partner.

Mr Koyama assured participants that a new dawn for Sierra Leone’s media has been ushered.

“Private investors are ready to invest in the media,” he assured.

He however called on the media to be responsible and professional in their trade.

Chairman Koyama also reminded media owners about the decriminalisation of the defamatory and seditious libel laws adding that it was a campaign promise of President Julius Maada Bio.

With the decriminalisation, he went on, journalists would no longer be arrested and detained for mere publications.

He however warned them to fully comply with the relevant laws of the country.

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