With the professional ingredient coupled with ensuring that all ghost names are deleted from government’s payrolls; while projecting respectability and suitability, but most importantly, the establishment of pausing morale problem reflective of job classification and attended salary, enshrined in the harmonization scheme, has closed the once unbearable and unfair gap that previously fertilized the uneasiness in the public sector thereby providing ample room for NASSCORP to save a little more money, and make meaningful contribution to the national budget.
Now that the harmonization platform has calmed the storm and with the cooperation and encouragement of government coupled with effective governance, NASSCORP had laid the foundation for sustainable growth and progress
While it is a reality that the process of harmonization will go a long way in easing tension and stress of disparity in the public sector specifically, in collaboration with the government, has had sleepless night figuring out ways and means to resolve such challenge has been a pondering over the task, and now hats-off that it could be harmonized, remains one of its (NASSCORP’s) greatest compliments.
Moreover, the Public Sector Pension Scheme for public and civil servants managed by the Civil Service Agency (CSA) was non-contributory and was fully funded by taxes.
The government also made social security benefits payments on behalf of all civil and public servants as mandated by law to the National Social Security and Welfare Corporation (NASSCORP) of Liberia.
Approximately 18,000 pensioners received monthly pension payments amounting to more than 500,000.00 United States dollars (USD).
The rapid rise in pension costs as a result of the ever-growing number of public and civil servants made it evident that the government would be unable to continue this practice. This led to the harmonization of the National Social Security and Welfare Scheme and the Public Sector Pension Scheme.
In keeping with the ISSA Guidelines on Good Governance and the principles of dynamism and transparency, the Government of Liberia and NASSCORP devised the “harmonization” and migration of the two schemes.
This exercise showcased a full vetting and validation process with the intent of weeding out ghost names and reducing the pension costs of the government thus diverting monies to significant budget allocations.
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