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NASSCORP Unveils New Pension Scheme

The National Social Security and Welfare Corporation (NASSCORP) has revealed that its new pension scheme for workers in Liberia will take effect on July 1, 2018.
According to the Director General of NASSCORP, Dewitt Vonballmoos, the new pension scheme, which was passed into law in 2017, states that Liberian workers will be retired at the age of 60 to obtain their benefits.
Director Vonballmoos made the revelation on Wednesday, March 21, 20018 at an Interactive Forum held at a local hotel in Congo Town, Monrovia.
He explained that the new pension law excluded the members of the Legislature and government appointees and those who were born before 1980.
He indicated that NASSCORP was established in 1988 and that those who are reaching 60 years and do not meet the requirement under the new pension scheme will not benefit.
Mr. Vonballmoos stressed that Liberian workers should ensure that their employers register and pay their contributions to NASSCORP so that when they are retired at the age of 60, they will get their due benefits.
He disclosed that government employees will no longer receive pension benefits from the Civil Service Agency (GSA), but rather the human resource departments of government ministries and agencies, who will work along with the CSA to ensure that all employees register with NASSCORP for adequate information about them.
He maintained that NASSCORP will implement the pension scheme with the rules and regulations that govern the process and not outside its mandate.
The NASSCORP boss asserted that the human resource department should inform NASSCORP within 14 days in the case of injuries and accidents at job sites or else the victims will not benefits from the corporation.
He emphasized that employees should not just relax on their employers to provide the necessary information concerning them, but instead they should also visit NASSCORP to verify what has been sent.

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