I have listened to and read most of what has been put out about the NIS and comment as follows

The fund is failing :
The fund has at least 6 different categories
My question is
(1) What is the balance of the fund at present
(2) How is it made up …list the balance is each segment ..Show the detailed performance to each segment
(3) which of these segments is performing how they should and which are failing
Once these are determined we can then attempt to repair each part
(4) Is the pension part of the fund actually failing? I doubt this
Reason : Assumption :
(1) A person earns $ 1,000 monthly for 40 years(age 27 to 67 )
(2) The employee and employer each contributes 6 % of his salary =$ 1,440 annually
(3) Out of 6 % return as announced by the board assume 50 % to enhance pension and 50 % for Admin. costs
(4) $ 1,440 annually at 3% Interest compounded for 40 years = $ 111,833
(5) Pension at age 67 …60 % of salary = $ 600/mthly or $ 7,200 annually
(6) the fund will have in it 15.5 years of pension to pay the employee or until the employee reaches 82.5 years old
(7) This is higher than the average lifespan of a Barbadian…the figure given by the board

Therefore , from the above example , the fund will not require any input from any other employee to provide the pension for oneself
What then is the problem? It has to be failing due to overspending by the other segments
Which is why I asked for a detailed performance schedule for each segment
Then and only then can we begin to try to solve the plan’s problems since it CANNOT be the PENSIONS segment which is causing it to fail