- Last Updated: Monday, 06 April 2015 16:46
The mission of the National Social Security and Welfare Corporation (NASSCORP) is to provide for the future financial security of insured employees (and their dependents) in event of loss or natural ability to earn income temporarily or permanently, due to work-related injury, occupational disease, old age, invalidity, or death. Eligible employees include civil and public servants as well as workers in the private sector across Liberia. The Act creating NASSCORP empowers the organization to carry out several important functions to ensure that those who are covered will have means of financial-support when he/she is no longer in position to rely on his/her own abilities as a source of livelihood. In short, NASSCORP is mandated to administer the Employee Injury Scheme, the National Pension Scheme and Welfare Scheme by doing the following:
- Register employees and employers
- Collect contributions from employers and employees
- Establish and maintain proper and adequate records on contributions and insured earning
- Encourage and enforce compliance
- Properly manage the funds in each scheme
- Receive claims and pay legitimate social security benefits
- Invest a portion or corporate surplus funds into safe assets or competitive yield and;
- Provide information and education on the schemes to stakeholders and to the general public.