BENEFITS DISBURSEMENT ON COURSE

The test to the reliability of any insurance institution, whether social or commercial, is the rapidity with which benefits are paid to clients when due.  That is why well-meaning insurance institutions not only prioritize the payment of benefits to their clients, but also avoid complications that impede the payment process.

The National Social Security & Welfare Corporation (NASSCORP), under the stewardship of Director-General Francis M. Carbah, is in full cognizance of this fundamental insurance axiom, which it has maximized to the benefit of the beneficiaries.

As a demonstration of this insurance best practice, NASSCORP has stepped up its benefits payments in recent years, totaling millions of United States Dollars.  This has brought joy to beneficiaries both in the private and public sectors.

The ongoing benefit disbursement effort recognizes the invaluable services which the beneficiaries rendered the Government and people of Liberia while serving the State in various institutions, contributing to the economic recovery efforts.

Speaking at a disbursement exercise some time ago, Director-General Carbah told the beneficiaries that they deserved the benefits they were receiving because they had diligently served the country during difficult times and in different capacities.

 “We thank you greatly that you demonstrated dedication and patriotism on the job in the supreme interest of Mother Liberia and posterity,” Mr. Carbah said.

The NASSCORP boss continued, “You are all shining examples of stewardship and nationalism because even while Liberia voyaged its way through dark and desolate plains of war and depression, you offered your valuable labor services that provided illumination which kept the nation on the path to stability and prosperity.”

Beneficiaries who spoke to NASSCORP Newsletter after receiving their benefits rained praises and commendations on NASSCORP Management for the speed and orderliness of the disbursement process.

Most importantly, benefit payments have increased steadily over the years due to the submission of more claims by various establishments.

Records indicate that for the past three years, NASSCORP disbursed over US$3 million to some 10,000 beneficiaries.  There is growth in benefit payments each year, as government and private sector entities continue to retire some of their employees.

 NASSCORP, in the face of growth in benefit payments, stands tall to meet its obligation to employees and their dependents at all times, consequent upon sound fiscal policy initiated by Management.

NASSCORP Boss Tours Guest House Project in Margibi County

The Director-General of the National Social Security and Welfare Corporation (NASSCORP) has been touring the ongoing guest house project of the Corporation in Kakata, Margibi County.

Mr. Francis M. Carbah, along with his entourage, was met on arrival last Tuesday by Margibi County Superintendent Levi Pia at the County’s Administrative Building. Welcoming the delegation, Superintendent Pia said, he was delighted to welcome the NASSCORP Boss to the county and called on his officials and staff to give their undivided attention to Hon. Carbah as he unfolded his mission to the county.

Speaking to members of the Superintendent Council and other staff members, in the conference room of the Administrative Building, Director-General Carbah expressed thanks to the Superintendent and his staff for the warm reception accorded him and his delegation in the county.

The NASSCORP Boss said he had come to officially inform the Margibi officials that NASSCORP was undertaking a project in the county and called on them to join him on a tour of the guest house project.

He said Margibi County was at a strategic location with a huge population and it was therefore necessary to embark upon such a project there for the benefit of the county and the country as a whole.

For his part, the Project Manager of Win Builders Inc., the contractor of the project, Joseph K. Dougan, said they have completed 85% of phase one of the project, a 10-bed room guest house which includes office space, lobby, kitchen, back and front porches.

The Project Manager said phase two of the project which includes a conference room, restaurant and residence for manager will commence within three weeks. He praised NASSCORP for undertaking this ideal project that is located near Monrovia, adding that the guest house will serve as a resort that would serve people from Montserrado, Bong, Margibi Counties and further beyond.

This guest house project is part of several investment initiatives being undertaken by the current Management since it took over the mantle of authority at the Corporation.

The Management has over the past three years revived the Liberia Commodity Export Company (LCEC), an enterprise that is successfully processing and exporting local agricultural produce in partnership with a German Company (HCCO) with support from the German Government, as well as the J. F. International, Inc. (Flamingo), a gaming enterprise formerly saddled with debts but has now begun paying dividends to NASSCORP. It has also fully renovated the Dunbar Building that is now under rent.

The Management has undertaken three other investments in the form of real estate development with the acquiring of three parcels of land in Monrovia, Montserrado County; Buchanan, Grand Bassa County; and Kakata, MarGibi County.

To boost its investment stride, the Corporation will this month simultaneously break ground for the construction of a high-rise multi-purpose complex on the parcel of land located at the ELWA Junction in Monrovia and a guest house in Buchanan, Grand Bassa County. As for the parcel of land in Kakata, a guest house project is currently ongoing.

This initiative of NASSCORP to undertake several investment projects is in line with the Regulations of the Corporation which empower it to invest of portion of its insurable earnings into profitable and realistic ventures in order to assist support the Employment Injury and National Pension Schemes.