News about the NSSS: 2002
The purpose of this page is to present news and comments on developments at the National Social Security (Pension and Other Benefits) Scheme ("NSSS").
Comment will generally be restricted to major changes in the eligibility and design or to any areas which may have an impact on private pension funds.
The main news item is that a statutory instrument (SI 124 of 2002) was promulgated on 31st May, 2002:
This Statutory Instrument brings on to the Scheme "every person employed in the service of the State" who shall be required to contribute from 1 June, 2002.
The SI defines such employees to include the army, air force, police and the prison service, the secretary and staff of the Public Service Commission and members of the staff of Parliament.
Comment: When the NSSS first came into operation on 1 October 1994, the intention was to include such employees a year from that date. In the end, it clearly took a lot longer than that. The impact on the NSSS will obviously be a substantial increase in the number of contributors.