Business leaders reject NSSF proposal
Economic bodies insist on limiting
subscription ceiling to just LL2 million
Representatives of private sector businesses discussed increasing the National Social Security Fund (NSSF) subscription ceiling at a meeting chaired by former minister Adnan Kassar on Tuesday.
Currently the ceiling of payouts to the NSSF’s sickness and maternity fund per employee is set at nine percent of LL1.5 million. The NSSF wants to raise that ceiling to nine percent of LL2.5 million.
“Economic bodies are still adhering to their position, which is to raise the (ceiling of payouts) to LL2 million,” said Jacques Sarraf, former president of the Association of Industrialists (ALI).
“This ceiling (LL2 million) is enough to secure funds needed for the sickness and maternity fund,” Sarraf said.
The Cabinet is expected to approve a hike in NSSF subscription fees in its upcoming session on Wednesday (August 29).
Hospitals are threatening not to admit patients covered by the NSSF if hospital tariffs are not increased. In order to pay higher tariffs to hospitals, the NSSF insists it needs to raise subscriptions to its sickness and maternity fund.
Reported by Rania Ghanem
Date Posted: Aug 28, 2012