NIS garnishes accounts of deliquent companies

Backing down from a decision to publish the names of delinquent firms earlier this year, the National Insurance Services decided to go by the books and garnish the accounts of some of these companies, which were failing to make employees payments.{{more}}

In the January 12th, 2007, publication of the Searchlight newspaper, the NIS had threatened to publish the names of companies which did not respond to their letter to pay up within 14 days.

But earlier this week, Executive Director of the NIS Reginald Thomas indicated that his committee opted to invoke section 40 B of their constitution, which allows them to withdraw monies from the accounts of the ‘deadbeat’ firms.

According to Thomas, this proved successful with a number of these companies, but the accounts of others could not be garnished because they had changed their banking institutions..

The immediate numbers for which had paid up, and who were garnished were not available up to press time.

Meanwhile, Thomas indicated that the NIS had made impressive strides over the past 12 months, with increased registration, especially among self employed workers and voluntary contributions.

He said that close work with the Ministry of Agriculture, Forestry and Fisheries has seen an increase in the number of farmers and fishermen registering.

The NIS expects a greater increase in registration this year, which will be boosted by the opening of the Union Island Service Centre next Tuesday, January 8th.

This centre will service the entire Southern Grenadines.

The NIS is also working on enhancing pension reform by the end of the first quarter of 2008, and Thomas indicated that the entire staff is looking forward to moving into their new, more spacious headquarters within this year’s first quarter. (JJ)