Nasscorp

Frequently Asked Questions

Everything you need to know about NASSCORP

Social Security is a social protection program which provides insurance coverage to insured workers and/or their defendants in the event of interruption in their ability to earn income due to injury, sickness, injury, invalidity, old age or death.

The Act Establishing the National Social Security and Welfare Corporation (NASSCORP) was passed into law by the National Legislature on July 10, 1975. The Act empowers NASSCORP to administer the Social Security Program in Liberia. It mandates NASSCORP to administer three Schemes. They are:

  1. Employment Injury Scheme (EIS) was launched February 1, 1980;
  2. National Pension Scheme (NPS) was launched September 1, 1988; and
  3. Welfare Scheme (WS), will be launched as soon as the Government of Liberia identifies how it will be funded.

The Act Establishing the National Social Security & Welfare Corporation (NASSCORP) was revised in February 2017.

Employment Injury refers to personal injury (including body injury, such as loss of limp, visual, etc.) which occurs while a person is at work. Employment injury also includes occupational disease.

An Occupational Disease is a disease that a person contracts as a result of performing his/her job over a period of time.

Benefits under the Employment Injury Scheme are provided in case of disability or death of an insured person due to an employment injury. They are:

  1. Medical Benefit
  2. Temporary Disablement Benefit
  3. Permanent Disablement Benefit
  4. Constant Attendance Allowance
  5. Lump sum Death Benefit, and
  6. Funeral Grant

Registered employers contribute 2% monthly in behalf of each insured employee. This amount is not deducted from the earnings of employees, but is the employers’ contribution liability to social security towards the provision of benefits in cash and or kind to insured employees who cannot continue work as a result of injury or occupational disease.

Since it is not possible for the traditional herbalist to submit a reliable medical report, which can be reviewed professionally by our panel of medical doctors, Social Security does not approve of sick or injured employees seeking traditional herbalist treatment.

Medical Benefit is awarded immediately following a job-related accident. The standard of medical care consists of outpatient and in-patient treatment, all necessary drugs and dressings, pathological and radiological investigations, specialist consultation and care, etc. Medical care is provided at recognized licensed hospitals and clinics.

Upon sustaining an employment injury, the insured person should:

  1. Give notice of the injury either orally or in writing, personally or through an agent, to the employer/foreman/supervisor, and the particulars of the injury should be written down in the Accident Book kept at the factory/entity;
  2. Obtain a medical certificate from the medical practitioner who treated the insured person.
  3. Fill in properly the prescribed claim form and submit it to NASSCORP along with the medical certificate, original receipts, medical report, police report (in case of Commuting Accident or two eyewitness’ statements (in case of industrial Accident).

The Scheme protects all insured persons who are employed, except voluntary insured persons, daily hires, personnel of the Armed Forces of Liberia, members of the employer’s family, etc.)

The National Pension Scheme is a contributory insurance program which awards pension benefits to insured employees who are retired as the result of old age, sickness or severe injury which forces them to stop work, or to dependants of deceased insured person.

Registered employers contribute 4% monthly in behalf of each insured employee, and insured employees also contribute 4% of their monthly earnings. The total NPS contribution rate is 8% of insured employees monthly earnings. [Earnings here refer to “gross salaries, wages, bonuses, piece rate, incentive payments and any allowance in respect of increased cost of living paid or payable to an employee.”] 

Benefits under the NPS are provided in case of old age retirement, retirement as a result of sickness or severe injury, or death of insured employees. They are:

  1. Retire Pension
  2. Invalidity Pension, and
  3. Survivor’s Lump sum Benefit
To receive Retire Pension, insured persons must qualify three concomitant conditions:
  1. Make 100 monthly contributions, if born before 1980 or Make 144 monthly contributions, if born 1980 and after;
  2. Attain 60 years of age; and
  3. Be retired from active employment.
Although 100 or 144 months are minimum requirement to qualify for 25% of your average monthly earnings as Retirement Pension Benefit, all months exceeding the minimum is included in the calculation, with every successive 10 months increasing the minimum rate 25% of retirement pension by 1%.
Contributions 12 months or more but less than 100/144 months will be paid as Retirement Grant.

To receive Invalidity Pension, insured persons must qualify two conditions:

  1. Contribution Condition: Make minimum 50 or more monthly contributions
  2. Medical Condition: Be certified by licensed medical practitioner as an invalid. [An invalid is one who is unable to continue working as a result of a mental or physical challenge.]

Contributions 12 or more months but less than 50 months will be paid as Invalidity Grant.

Your contributions shall be paid as benefits to your DEPENDANTS if you die before the age of 60 years. Contributions paid for 12 months or more shall be paid to your dependents as Survivor Grant (SG). This SG represents the deceased insured person’s contributions deducted from his/she earnings plus interest at time of death.
SG shall be paid to your dependents (widow/widower or child). Children at age 21 years and below are entitled to equal share. In case there is no widow/widower or child, the SG shall be paid to a dependent parent.

You retain your pension rights. Under the Schemes, tenure does not count; rather, your age and the number of contributions you make. Also, you take your Social Security number with you whenever you change jobs.

  1. The Scheme covers all insured persons who are working in Liberia (or Liberians working abroad for a Liberian employer) for employers who have one or more employees. However, the scheme does not cover the following:


    Persons under age 18 or age 65 and above;
    1. Members of the Armed Forces of Liberia;
    2. Daily hires
    3. Sea farers
    4. Members of an employer’s family, etc.
  1. Be age 18 or above and employed and earning income;
  2. Be registered with NASSCORP;
  3. Obtain your Social Security I.D Card, and
  4. Pay your monthly contributions to Social Security Pension Plan
  5.  

If you die, your pension shall be paid to your DEPENDANTS as SURVIVOR’S LUMP SUM BENEFIT. A widow/widowers entitled to 50% and children are also entitled to 50% of your pension benefit in lump sum payment.

In case there is no widow/widower or child, 50% of your pension shall be paid to a parent.

Your rate of pension’s calculation is based on TWO factors:

  1. Your number of monthly contributions paid; and
  2. Your average monthly earnings during the best five (5) years before retirement

Sample RP Calculation       

Beneficiary Name: Paul A. Kolee

Age: 60 years, retired after 11 years of insurable employment

Contributions: 132 months (or 28%)

  1. Best 5 Years Cumulative Earnings:
    • 2001 – 100,000.0
    • 2002 – 200,000.0
    • 2004 – 150,000.0
    • 2005 – 220,000.0
    • 2007 – 205,000.00

 

  1. 875,000.00 (cumulative sum of best 5 years) /60 months
  2. 14,583.33 (Average Monthly rate) x 28 (% of 132 monthly contributions)
  3. $4,083.33 (represent monthly RP benefit payment)

You retain your pension rights. Under the Scheme, tenure does not count; rather, your age and the number of contributions you make. Also, you take your Social Security number with you whenever you change jobs.