The National Insurance Fund (NIF), established under Section 39 of the National Insurance Act, manages the investment portfolio to maximize returns and provide pensions and other benefits to eligible individuals registered under the National Insurance Scheme. The NIF receives funding through contributions made to the National Insurance Scheme, and it invests these contributions. The Fund then disburses pensions and other benefits to those eligible under the Scheme.

The National Insurance Act requires regular actuarial reviews to ensure that payment rates will sustain the Fund’s health in the future. Therefore, effective financial planning is essential. In 1990, the Government established the National Insurance Board, recognising the need for careful management of the NIF’s diversified investments. The current 16-member Board brings expertise in banking, investment, finance, legal affairs, real estate, and social sectors. To fulfill its mandate, the NIF’s staff and Board must uphold strong corporate governance. Let’s take a look at their progress!