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NIS becoming State-Owned Enterprise soon

November 21, 2023

The National Insurance Department will cease being a department of the Government at month-end.

Minister of Labour, Colin Jordan, today announced that effective December 1, it will transition to a full-fledged commercial State-Owned Enterprise (SOE)

He spoke about the changes during the debate on the “National Insurance and Social Security Amendment (Number 2) Bill, 2023,” in the Lower House today.

Mr Jordan told the house the SOE will now be called the National Insurance and Social Security Service. A board will be responsible for the formulation of policy and the organisation and administration of the Service, including the appointment of staff, the management of the service and the monitoring of its performance.

He also sought to explain what the change would mean for the 267 public servants currently employed at the NIS, while revealing what would happen to the remaining staff members.

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