Barbados’ National Insurance Scheme (NIS) is under severe stress and there are limited options to fix it.Ways must be found to increase the amount of contributions paid by workers and employers or there must be a slash in the amount of money the social security scheme pays out.That was the blunt assessment of NIS consultant actuary Derek Osborne, as he joined Prime Minister Mia Mottley and other top government and private sector officials, as well as non-governmental organisation (NGO) leaders, in a national broadcast this evening which focused on the grim state of the NIS.
