Mission
"To administer a social security scheme that provides financial security to all employees in Sierra Leone in the form of Old age benefits, Invalidity benefits and Survivors, based on Social Insurance principles."
Vision
"To be the centre of execellence providing quality social security protection through promoting a culture of high quality preformance among its staff."The National Social Security and Insurance Trust is a Statutory Public Trust, charged with the responsibility of administering Sierra Leone’s National Pension Scheme. By the National Social Security and Insurance Trust Act. No. 5 of 20th July 2001. The National Social Security and Insurance Trust was established
“to provide retirement and other benefits to meet the contingency needs of workers and their dependents and to provide other related matters”
After the declaration of the end of the decade-long civil war (1991-2002), the President, Alhaji Dr. Ahmad Tejan Kabbah, expressed his desire to establish a social security scheme as part of the process of rehabilitation, reconstruction and resettlement geared towards sustainable peace, good governance, socio-economic development and political advancement. In order to achieve his dream, the President included Social Security within the mandate of the Ministry of Labour and Industrial Relations, in 1999, with the responsibility of establishing the Scheme for all categories of workers, and the Social Safety Net for the aged and needy throughout Sierra Leone. 
The Ministry, in collaboration with the UNDP/ILO, enlisted the services of ILO-sponsored consultants, to conduct financial studies and actuarial analysis of the proposed Scheme in order to determine suitable options and various scenarios, which included methods of financing, rates of contributions and benefit structures and qualifying conditions. The Committee’s report, and the recommendations of the Consultants formed the basis for the introduction of the first National Social Insurance Pension Scheme
The Trust is autonomous and belongs to the state. Commencement date: As required by Section 1, Act No. 5 of 2001 came into operation by Presidential Order in Statutory Instrument No.8 of 31st August 2001. The effective date of payment of contributions is January 2002.
An overview of our organisation.
- Registration of employers and employees
- Collection of contributions
- Processing and payment of benefits
- The maintenance of records on contributions and Insured earnings
- Compliance and enforcement procedures
- Management of the funds of the scheme
- It is a defined benefit social insurance scheme
- It is partially funded and financed on a scaled premium basis
- It is compulsory for all employees and voluntary for the self-employed
- It is portable i.e. one can move from one job to another without loss of pensions
- Benefits are indexed to maintain the real value of pensions
The three contingencies covered by the scheme are:
- Old-age
- Invalidity
- Survivor
The Scheme is financed from three sources:
- Contributions from Employers and Employees
- Investment Income; and
- Penalties and interest on delayed contributions
Social security contribution is deducted from basic salary. The contributions to the Scheme are shared between employers and employees in a ratio of 2:1. The current contribution is 15 percent of basic salary comprising 10 percent from the employer and 5 percent from the employee. Self-employed persons pay 15 percent of declared incomes.
The Government is paying an additional 2.5 percent contribution for its employees to validate their past services, i.e. recognise their years of labour prior to the establishment of the scheme. Thus, total contribution for public sector employees is 17 .5 percent. The Government also
pays an additional 2 percent contribution for the police and military personnel as the extra cost for the new benefit of full pension when these personnel retire at age 55. The 2007 Actuarial Valuation Report has maintained these rates for the new 20-year equilibrium period.
The Government is paying an additional 2.5 percent contribution for its employees to validate their past services, i.e. recognise their years of labour prior to the establishment of the scheme. Thus, total contribution for public sector employees is 17 .5 percent. The Government also
pays an additional 2 percent contribution for the police and military personnel as the extra cost for the new benefit of full pension when these personnel retire at age 55. The 2007 Actuarial Valuation Report has maintained these rates for the new 20-year equilibrium period.
NASSIT has a decentralised contributions collection system. A set of pre-printed registration, contribution collection and benefit forms are available at all NASSIT branch offices in the country. The implementation of the Biometric Registration System is in progress. Data of existing members has been migrated into the system, and capturing of fingerprints, facial features and photographs of members is in progress. Re-registration of members with the new system is also in progress.
NASSIT pays old age benefits to members aged 60 who meet the qualifying period of contributions. In the event of partial or total incapacity which renders a member unable to engage in gainful employment, the scheme pays invalidity benefits while a survivor's benefit is paid upon the death of a member. The indexation of pensions is linked to inflation using factors recommended by the actuary.
Mohamed Fuaad Daboh
Director General
Mohammed Gondoe
Deputy Director General, Administration
Edwin Kamara
Deputy Director General, OperationsFadiru Koroma
Ag General Manager, Admin and HRD
Victoria Mansaray
General Manager, Benefits
Osman F Koroma
General Manager, Public Affairs and Events Planning
Abdul Turay
General Manager, Finance
Hassan M Bangura
Chief Internal Auditor
Muhamad L Bah
Ag General Manager, ICT
Joe Hassan Kalokoh
General Manager, Research, Planning & ActuarialMohamed Sam
Ag General Manager, OperationsThere are ten Divisions within the Trust and three autonomous Departments that report directly to the Director General's Office.
The Operations Division is responsible for the following: registration of establishments and their employees, conducting compliance inspections and collection of contributions.
The Benefits Division is responsible for the timely and accurate processing and payment of benefits to the right person when they fall due, in accordance with the National Social Security and Insurance (NASSIT) Act No. 5 of 2001. NASSIT.
The Finance Division handles the overall formulation and implementation of financial policies of the Trust, financial planning, budgeting and budgetary control, accounting systems, asset management and other finance related activities. It is also responsible for the timely preparation of annual financial reports.
The Division’s functions and responsibilities include: conducting public education on the activities and operations of the Trust, engaging in public relations activities, protocol duties and hospitality, corporate branding, communications and interfacing with the public.
This Division is charged with the responsibility of coordinating the investment of excess funds of the Trust that are not immediately required for benefits payments as prescribed in the Trust’s Investment Policy Statement. The Divisions is also engaged in regular monitoring and evaluation if projects undertaken by the Trust.
The Division is responsible for providing secretarial functions to the Board of Trustees, overseeing legal and regulatory framework, investigations, enforcement and litigation, securing leases and agreements, supporting the tribunal, legal/policy analysis and advice.
Specifically, this Division is responsible for monitoring progress and evaluating the overall performance of the NASSIT Scheme through effective planning and implementation of quantitative social, economic and actuarial researches activities to find answers to the following questions:
- How will future income and expenditures of the scheme develop?
- How does the scheme react to potential future demographic and economic developments?
- What is the financing and income replacement implication of future scheme reforms?
- What are the best investment options of the scheme? and
- How would the scheme respond proactively to changing economic & demographic trends?
The Division is responsible for providing and maintaining a single logical data repository capable of supporting all of NASSIT’s core business activities; establishing and maintaining effective and efficient information and communications system; ensuring the proper maintenance of members’ records. The Division ensures using modern technologies in the administration of the scheme in an efficient and timely fashion.
The Division is responsible for the formulation of human capital policy and systems, resourcing, capacity building, assessment and performance management, learning and development, staff welfare, general human resource operations and employee relations; administration and facilities planning and management, as well as general services and providing logistics to ensure that staff work in the right atmosphere and have the necessary tools for efficient performance.
The Division is charged with the responsibility to provide Management and the Board of Trustees with assurance through independent appraisal of the Trust. To achieve this, the Division conducts financial audits.
These Departments are not under any of the ten Divisions and they report
directly to the Director General’s Office.
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Procurement
The Procurement Department is responsible for acquisition of goods, works and services for the Trust. This function is carried out in strict adherence to the country’s Public Procurement Act. |
Customer Service
This Department is largely responsible for establishing and cementing the relationship of the Trust with the public. Customer service staff are the first line of contact with the public the Trust. Through continued interaction with the public, this Department creates an image of the Trust that leaves a lasting impression on our valued customers. |
Compliance, Risks and Quality Department The primary function of this Department is to monitor and assess compliance. Through quality assurance activities, this Department also ensures that standard processes and procedures are strictly followed in all activities of the Trust. The monitoring and assessment of risks is also the responsibility of this Department. |