The NationAL Insurance Scheme is taking its consultation caravan to Carriacou Friday, all part of discussion with residents of the Sister Isles on recommended changes to its social security programme.
This is based on its 13th Actuarial Review which proposes changes including the gradual increase in the pensionable age and planned contribution rate- increases.
The new unemployment benefits and the revamp of the self-employed regulations will also be part of the conversation.
The consultation will take place at the Conference room of the Mermaid Beach Hotel, Hillsborough, Carriacou, beginning 5 in the afternoon.
The National Insurance Scheme is into its 40th year of existence.
Chairman of the Board of the National Insurance Scheme, Philbert Lewis, says the changes are necessary, which among other things are not new to the region, in extending the life of the fund.
NIS Director, Dorset Cromwell, says many reviews over the years have recommended changes but little or nothing was done, and as of today, it puts the sustainability of the Fund into question, that changes now are imperative.
NIS Director, Dorset Cromwell, explained that the sustainability of the Fund has deteriorated over time, and among other things, he took into account the variable of the reserve expenditure ratio.
