Lebanon Businessnews News
 

Reform the NSSF
A two day panel -that starts today- will discuss mechanisms to reform the National Security Fund
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Starting today, the Ministry will organize a two day panel to discuss the NSSF’s problems and social security conditions in the country with public and private sector representatives.

Harb said that he will study the NSSF law, and tackle problems facing the Fund to find suitable mechanisms to solve those in order to provide all beneficiaries with the best services. He said he plans to subject the Fund’s accounting department to strict auditing regulations.

“The media has to back support us in our plan to reform the NSSF,” he said.

The NSSF faces a huge financial deficit that is estimated at over $472 million due to the failure of the government, which contributes 25 percent of the Fund’s overall spending, to repay its obligations and the shortage of maternity and sickness funds.

The Fund finances its operations through the monthly fees it collects from private and public sector employees. Nearly 1.5 million Lebanese citizens benefit from its services.

The NSSF provides employees with national insurance coverage for sickness and maternity care. It also covers family allowance, end-of-service pensions, and work-related accidents and diseases. Any employee or laborer from any sector is eligible to enroll in the program. 

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Date Posted: Feb 11, 2010