GUIDE TO NASSCORP SCHEMES
EMPLOYEE'S GUIDE
Each one of us works to earn an income. In fact, with a reasonable income, we can sustain ourselves, our families, and we can save for the future -the important things in life.
In spite of our best efforts, however, sometimes the income we make cannot fully sustain us, especially in times of great need. When trouble appears in our lives, we often find that having a limited income makes it difficult to live, to provide for our families, and to save for the future. While our jobs may sometimes provide temporary assistance, we all know that in times of great need, we need more than just temporary assistance. This is why Social Security is important. Social Security can provide important income protections and safety by coming to our support when we are most in need. Most importantly, Social Security is long lasting and it treats us all fairly.
In Liberia, there are two social security plans (otherwise know as Schemes) operated by the National Social Security & Welfare Corporation (NASSCORP). These schemes are the Employment Injury Schemes (EIS) and the National Pension Scheme (NPS). Both of these plans are designed to provide income protections to people in the event of injury, sickness, old age or death.
The goal of this Employee’s Guide is to educate you about your rights, your obligations, and the benefits available to you under these social plans. In each of the sections of this document, we will first describe your rights under the law and then we will discuss your obligations and responsibilities, followed finally by the benefits you can enjoy under NASSCORP coverage. You should treat this guide as your most reliable source of information regarding how NASSCORP works to protect you and your family. Remember, social security protects all of us.
EMPLOYER'S GUIDE
The Act as well as the related General Regulations (2018) establishes rights and responsibilities that all organizations and persons registered under the Social Security program as employers and employees are required to comply with. Within this context the management of NASSCORP is providing you this educational tool to ensure that as an employer, you understand your rights and responsibilities under the Social Security law.
As an employer, you are the fulcrum of the Social Security program. Your compliance therefore, is required for the successful implementation of the Social Security schemes. Moreover, your compliance ensures that your employees enjoy the full benefits administered by NASSCORP.
Employers who fail to comply with the guidelines and regulations established under the law risk being penalized. It will help you as an employer to remain in compliance with the law and avoid any defaults and breaches.
During its existence, NASSCORP has made important strides in bringing social security to your doorstep through the print and electronic media as well as through awareness workshops. Accordingly, this Employer’s Guide will simplify, for you, your rights and responsibilities as an employer and how you can comply with the provisions of the Act and General Regulations. The management of NASSCORP hopes you will make the best use of this guide to help you understand your rights and fulfill your obligations.