Daily Archives: November 20, 2012

Strive for nothing but excellence – St Stanislaus College valedictorian

Strive for nothing but excellence – St Stanislaus College valedictorian

November 6, 2012 –  Guyana Times

St Stanislaus College 2012 valedictorian Bianca Phillips,

“Be  courageous, be dedicated, be submissive, but most of all, always remember to strive for nothing but excellence,” these are the words of St Stanislaus College 2012 valedictorian Bianca Phillips, as she encouraged the nation’s children in their pursuit of success.

Since the commencement of her academic life at St Stanislaus College, Phillips has been an outstanding student and thoughts of the Caribbean Secondary Education Certificate Examination (CSEC) did not deter her spirit.  [more]

Guyana: Plight of the National Insurance Scheme (NIS)

Plight of the NIS – commentary

Posted By Stabroek staff On November 19, 2012 In Editorial | Comments

With its urgent tone, the draft Eighth Actuarial Review of the National Insurance Scheme (NIS) has again lifted the veil into the country’s troubled social security system.  The reviewer, Mr Derek Osborne of Horizonow was blunt in his assessment, declaring that the scheme was nearing a crisis and immediate steps were required to pull it back from the brink including raising the contribution rate from 13% to 15% no later than January next year, hiking the wage ceiling to $200,000 per month, freezing pension increases and raising in a phased manner the pensionable age from 60 to 65.

A raft of other measures was enunciated in the report which in a matter-of-fact manner set out the jeopardy faced by the Scheme and other dangers such as an unbalanced investment portfolio and a low number of contributors. Mr Osborne also raised doubts about the quality of governance at the NIS and the efficiency of the Scheme. Reportage on the review drew immediate ripostes from the two government officials who have the closest connection to the NIS: the Minister of Finance, Dr Ashni Singh and the long-serving Chairman of the NIS, Dr Roger Luncheon.       [Read more  Plight of the NIS ]

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