Jamaica. National Insurance Fund reaches $143 billion
The National Insurance Fund (NIF), the source from which pensions and other benefits under the National Insurance Scheme (NIS) are paid, saw double-digit growth in the fiscal year ended March 2021. In a new update provided by the Ministry of Labour and Social Security (MLSS), the Jamaica Observer learnt that as at March 31, 2022, the net asset value of the fund stood at $143.424 billion, representing year-over-year growth 14.13 per cent. The NIF is funded by national insurance contributions, with...