CARL-SL Raises Alarm Over NASSIT Investments, Citing Risks to Pension Stability

CARL-SL Raises Alarm Over NASSIT Investments, Citing Risks to Pension Stability

The Campaign for Human Rights and Development International Sierra Leone (CARL-SL) has issued a stern warning regarding the investment performance of the National Social Security and Insurance Trust (NASSIT), cautioning that mismanagement could jeopardize the future financial security of pensioners.

Jeremy Ben Simbo, Executive Secretary of CARL-SL, highlighted the severity of the situation during a recent interview on AYV. He emphasized that the sustainability of NASSIT—which oversees retirement benefits for Sierra Leonean workers—is a critical national priority. Simbo warned that failing to manage these investments prudently puts the institution’s ability to meet its future obligations at direct risk.

“If those investments are not properly done in the best interest of Sierra Leoneans, it will become a time when NASSIT will not be able to pay benefits to retirees,” Simbo stated.

Adding to the urgency, Simbo pointed to comments from the minister responsible for NASSIT oversight, who recently acknowledged that certain investments have underperformed. For CARL-SL, this admission confirms that the concerns are not merely speculative but based on official recognition of poor performance.

In response to these developments, CARL-SL has called on President Julius Maada Bio to intervene immediately to safeguard the funds of contributors.

“We are calling on the President to come in and protect our monies at NASSIT,” Simbo said. “This is not time to talk but this is the time to act.”

As public scrutiny grows regarding NASSIT’s management, the stability of the pension scheme remains a pressing issue for the nation’s workforce and retirees alike.