NASSIT M l s o e i e t n s

12th April, 2000 Inauguration of the Tripartite Interim Establishment Committee to advice Government on all aspects of the Establishment of a National Social Security Scheme for Sierra Leone. 17th - 24th September, 2000 Study Tour of the Ghanaian Social Security System by the Tripartite Interim Establishment Committee on the National Social Security Scheme in Sierra Leone. Establishment of Trust Fund to implement the NASSIT Scheme. October, 2000 The Social Security Sub-Committee submitted the Bill to legislate on a Social Security and Insurance Trust Act for Sierra Leone. November - December, 2000 Development of a Strategy for Social Protection: Development of a National Social Security Pension Scheme Work-plan.

NASSIT M l s o e i e t n s

21st June, 2001 Bill on the National Social Security and Insurance Trust Act No.5 of 2001 Gazetted as Vol. CXXX11 No.32. 12th July, 2001 The National Social Security and Insurance Trust Act No.5 of 2001 was passed by Parliament. 20th July, 2001 The National Social Security and Insurance Trust Act No.5 of 2001 received Presidential Assent. 29th July, 2001 Study Tour on the design of the initial administration of NASSIT to the Republic of Ghana by Senior Government Officials comprising of: Hon. Alpha O. Timbo Minister of Labour, Social Security and Industrial Relations; Permanent Secretary, Ministry of Labour, Social Security and Industrial Relations;

Mr. Jacob E. Quee

-

NASSIT M l s o e i e t n s

Mr Abu-Bakarr Sidique-Dao (Deceased)

-

National Programme Manager, Capacity Building Programme (Ministry of Development and Economic Planning); Chairman, Parliamentary Committee on Labour, Social Security and Industrial Relations; and Director, Economic Policy and Research Unit (EPRU) Ministry of Finance

Hon. John S. Massaquoi -

Mr. Edmund Koroma

-

31st August 2001 National Social Security and Insurance Trust Act No.5 of 2001 became operational pursuant to Statutory Instrument No. 9 of 2001. First documentary Film on the NASSIT Scheme produced. 11th October, 2001 First meeting of the Interim Board of Trustees held in the Conference Room of the Factory Inspectorate, Ministry of Labour, Social Security and Industrial Relations Comprising of: 1. Mr Jacob E. Quee Permanent Secretary, Ministry of Labour, Social Security and Industrial Relations Director General (Designate)

2. Mr Eric N.A. Adjei

-

NASSIT M l s o e i e t n s

3. Mr. Ernest B. Koroma - Managing Director, Reliance Trust Corporation (later replaced by Mrs G.E.O Strasser-King) 4. Mr. Idrissa Yilla Managing Director, Sierra Leone Insurance Company Sierra Leone Employers Federation

5. Mr. Leonard E. Johnson- Executive Secretary, Sierra Leone Employers Federation 6. Mr. Kandeh B. Yilla Secretary General, Sierra Leone Labour Congress C/o Sierra Leone Labour Congress President, Sierra Leone Teachers Union

7. Mrs. Mariama Kamara (nee Jalloh)

8. Mr. Festus E. Minah

-

9.Ms. Teresa A. Vamboi - Principal Social Development Officer 10. Mr. Joseph P. Genda 11.Mr. Muluku S. Tarawally12. Mr Sheku A.T. Tamu 13.Mrs Ajaratu M. Mahdi Commissioner of Labour Civil Servants Association Ministry of Finance Bank of Sierra Leone

14.Mr. Ahmed M. Mustapha - Senior Assistant Secretary, Ministry of Labour, Social Security and Industrial Relations (Acting Secretary)

NASSIT M l s o e i e t n s

1st January, 2002 Payment of contributions by members of the Scheme commenced. 2nd January, 2002 Part of Ground Floor of the Guma Building (Trelawney Sites) was rented to be used as the West Area Office. 1st February, 2002 The First Chairman of the Board of Trustees, Dr. Lawrence Kamara and members of the Board were formally appointed by His Excellency the President Alhaji Dr. Ahmad Tejan Kabbah. NATIONAL INSURANCE COMPANY became the First Institution to register with the Scheme. KPMG was the First Institution to pay Social Security Contributions under the Scheme. MR. RONALD A.L KARGONEH was the First Self-Employed person to register with the Scheme. 1st March, 2002 The appointment of Core Staff were formalized by the Board of Trustees comprising of: - Mr Eric N.A. Adjei Director General

NASSIT M l s o e i e t n s

- Mr. Abu Bakarr Sidique-Dao - Deputy Director General
(Deceased)

- Mr. Ibrahim Bah Mr. Gibril Saccoh Mr. S Gbawuru-Mansaray Mr. Sengu M. Koroma Mrs. Georgiana Stevens
(nee Thompson)

-

Director of Finance and Administration Director of Operations Technical Director Solicitor Secretary Head, Public Affairs Head, Administration and Human Resource Operations Department Operations Department Data Entry Clerk Data Entry Clerk

- Mr. Joseph Mans Mr. Amadu Dainkeh Mr. Bai Tarawallie Mrs. Winifred Camara Mrs. Theodora Martyn

11th April, 2002 Inauguration of the First Board of Trustees by Mr. Alpha O. Timbo, Minister of Labour, Social Security and Industrial Relations. 1st May, 2002 The National Social Security and Insurance Trust Scheme was formally launched at the Lagonda Entertainment Complex, Aberdeen by His Excellency the President Alhaji Dr. Ahmad Tejan Kabbah. 6th May, 2002 First Contractual Agreement - Signed between NASSIT and Exceptional Systems (Ghana) Limited for the Design and Implementation of Member Records Management System. (NAPOS 2002).

NASSIT M l s o e i e t n s

23rd July, 2002 1st Tenancy Agreement with the Sierra Leone Commercial Bank Limited for the renting of an office building for NASSIT i.e. the Sierra Leone Commercial Bank Building at No. 35A Lightfoot Boston Street, Freetown. August, 2002 First publication of the Social Security Scheme issued: NASSIT News Volume I. 19th December, 2002 The Board of Trustees approved the First Investment Policy of the Trust. Members of the Investments Committee of the Board appointed. Movement into the Sierra Leone Commercial Bank building.

NASSIT M l s o e i e t n s

30th January, 2003 The Board of Trustees approved the first Corporate Plan. 7th February, 2003 The Board of Trustees approved the establishment of Area Offices in Bo, Kenema and Makeni. 7th March, 2003 Payment of First Survivors Grant to the estate of Mr Abu Bakarr Sidique-Dao (Deceased) 21st March, 2003 The First Meeting of the Board of Trustees. 29th April, 2003 Payment of First Retirement Grant to Messrs Ibrahim Mansaray and Alie Mansaray. 9th May 2003 NASSIT was accepted as a member of the International Social Security Association.

NASSIT M l s o e i e t n s

1st July, 2003 Inaugural Meeting of the Investments Committee. 4th July, 2003 Opening of Temporary NASSIT Area Office - South Region, Bo Town. 5th July, 2003 Opening of Temporary NASSIT Area Office - East Region, Kenema Town. 18th August, 2003 Opening of Temporary NASSIT Area Office - North Region, Makeni Town.

NASSIT M l s o e i e t n s

Government commenced payment of two and half percent of Wage Bill for the Validation of Past Services of Civil Servants. June, 2004 NASSIT took over the Government Pensions in payment including KIA (Killed in Action) of the Republic of Sierra Leone Armed Forces. July, 2004 NASSIT REGULATIONS 2004 came into operation to give full effect to provisions of the NASSIT ACT No.5 of 2001. Acquisition of NASSIT Investment Land in the Provinces BO and KENEMA. October, 2004 The Medical Board of NASSIT established. The Members are as follows: a) Dr. Noah Conteh b) Dr. M'baimba Bayoh c) Dr. Sahr A. Aruna Chairman Member Member

Appointment of Sierra Leonean, Mr. Edmund Koroma, as Counterpart Director General. The number of Insured Population and Active Membership of the Scheme reach the 100,000 mark for the first time.

NASSIT M l s o e i e t n s

January, 2005 Appointment of Mr. Edmund Koroma as the First Sierra Leonean Director General. Joint Venture Agreement between NASSIT and the Henan Gouji Development Company of China for the development of Real Estate in Sierra Leone. First Medical Board Meeting. Lease of NASSIT Investment Land in Kono. 22nd February, 2005 Payment of First Invalidity Grant to Joseph L. Fornah July, 2005 Commencement of Payment of Gratuity to Government Pensioners. August, 2005 25th August: The 2nd Board of Trustees of NASSIT was sworn into office. 17th & 18th November, 2005 First Members' Conference was organized by NASSIT.

NASSIT M l s o e i e t n s

January, 2006 NASSIT concluded Agreements with three independent contractors for the construction of Special Purpose buildings for its Area offices in MAKENI, BO and KENEMA. These contractors were FEMTURCON for the MAKENI PROJECT: MODCON for the BO PROJECT and INTERNATIONAL PROCUREMENT AND CONSTRUCTION COMPANY LIMITED (IPCS) for the KENEMA PROJECT. The Trust sponsored the screening of the 2006 African Nations Cup tournament on the SLBS and ABC Television Stations. 6th January, 2006 The First Member to qualify for a full pension based on the Validation of his Past Services, Mr. Nat J.O. Cole, was paid his Gratuity at a ceremony organized by NASSIT. February, 2006 The Medical Appeals Tribunal of NASSIT heard its first Appeal - J.B. Lewis Vs NASSIT The contract for the implementation of a Biometric Registration System for the registration of all members of the NASSIT SCHEME was awarded to SBTS GROUP /BARTS & ASSOCIATES.

NASSIT M l s o e i e t n s

February, 2006 The first edition of the staff News Bulletin was published. March, 2006 Decision/determination of the Medical Appeals Tribunal in the case of the Appeal of Joseph B. Lewis Vs NASSIT was delivered. The Appeal of Joseph B. Lewis was dismissed. First Writ of Summons issued against a delinquent institution April, 2006 25th April: Commissioning of Sierrablock Concrete Factory by His Excellency Alhaji (Dr.) Ahmad Tejan Kabbah, President of the Republic of Sierra Leone. The Ceremony of the Turning of the Sod at the Regimanuel Gray (SL) Ltd. Goderich, Estate Site and was performed by His Excellency the President, Alhaji Dr. Ahmad Tejan Kabbah. May, 2006 First Actuarial Valuation of the Scheme was conducted and shows that the Scheme is financially sound. August, 2006 Payment of the First Invalidity Pension to Alimamy Kabba.

NASSIT M l s o e i e t n s

23rd February, 2007 Inaugural Meeting of the NASSIT Pensioners held. March, 2007 Bai Emmanuel Tarawallie, Acting Area Manager, East Region became the first NASSIT Staff to testify on behalf of the Trust in a Contentious matter in Court - NASSIT Vs Pentagon Security Agency. May, 2007 Handing over and Dedication of newly constructed NASSIT Area Offices - East, North and South Regions. Second Members' Conference. June, 2007 Commissioning of Phase one of the Goderich Real Estate Development Second Members' Conference. Muslim Thanksgiving

NASSIT M l s o e i e t n s

NASSIT

FINANCIAL PERFORMANCE, 2002 - 2006
(Le’000)
2003
30,327,352 4,120,796 54,469 3,250,475 40,745,880.00 40,745,880.00 42,263,231

2002
CURRENT CONTRIBUTION INCOME (KPI) INVESTMENT INCOME BENEFIT PROCESSED ADMINISTRATIVE EXPENSES INVESTMENT PORTFOLIO o/w FIXED INCOME ASSETS 12,505,008 289,133 1,691,205 14,420,153.00 14,420,153 11,115,531

2004
28,891,026 11,328,204 311,274 6,922,857 73,918,435 66,730,898 7,187,537 76,629,389

2005
40,666,480 16,945,061 640,378 14,486,826 108,433,332 94,740,699 13,692,633 118,352,454

2006
49,638,582 18,427,757 1,981,368 15,016,000 151,579,838 120,530,657 31,049,181 170,751.981

(KPI)

NON FIXED INCOME ASSETS RESERVE FUND (KPI)

NOTES 1. 2. 3. 4. All figures are end period KPI - Key Performance Indicators Contribution Income Includes Penalties and Interests, and Purchase of Credits Benefit Processed include refunds.

NASSIT M l s o e i e t n s

NASSIT
KPI

OPERATIONAL PERFORMANCE, 2002 - 2006
2002 2003
95,391 63,370 32,021 1,040 10 1,030

2004
102,538 64,990 37,548 1,237 18 1,219

2005
113,613 68,069 45,544 1,672 25 1,647

2006
126,749 72,767 53,982 2,924 53 2,871

Insured Population Public Sector Private Sector

(No)

85,260 60,000 25,260 646 3 643

Registered Establishments (No.) Public Sector Private Sector Number of Scheme Benefit Claimants by Benefit type (No.)

Retirement Survivor Invalidity
Amount of Scheme Benefits Processed (Le 000)

27 16 11 41,533 26,492 15,041

392 373 19 173,618 159,965 13,653

732 631 90 11 625,837 547,024 73,639

974 700 267 7 1,868,080* 1,329,987 520,522

-

Retirement Survivor

NASSIT M l s o e i e t n s

2002
Number of Government Pension - inPayment claimants by type of Remittance Cash Bank Amount of Government Pension - inPayments made by type of Remittance (Le 000) Cash Bank Workforce by Location Head Office NDB West Area Office North Area Office South Area Office East Area Office
* Benefit Amount less refunds. KPI - Key Performance Indicator

2003

2004

2005
17,530 15,076 2,454

2006
18,585 15,419 3,166

57 28 0 29 0 0 0

87 45 0 36 2 2 2

16,468 14,208 2,260

4,140,157 2,789,723 1,350,434 155 67 4 50 13 10 11

6,016,865 4,162,905 1,853,960 220 78 20 74 19 15 14

7,626,307 5,132,439 2,493,868 227 75 41 61 20 17 13