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NIB $3M scam unearthed
Woman discovers $30,000 in bank account
Rhondor Dowlat
Published:
Sunday, April 29, 2018
An internal audit into the operations at the National Insurance Board (NIB) has uncovered a scam involving the payout of close to $3 million in maternity benefits.
Four workers from the Insurance Operations Department at NIB offices in north Trinidad have been sent home with full pay pending the outcome of the investigations.
According to a source at the NIB, who agreed to speak on condition of anonymity, in mid last year, a woman visited the office of the executive director Niala Persad-Poliah, situated at NIB’s head office at Queen's Park East, Port-of-Spain, and reported that she discovered approximately $30,000 in her bank account. The woman in her report stated that upon an inquiry with her bank on the origin of the hefty sum of money, she was told that it was her maternity benefit that was paid by the NIB.
However, the woman said she was never pregnant and therefore never applied for such benefit.
On the heels of her report, an internal auditor was mandated to carry out an audit of maternity benefit payments after it was brought to the attention of the audit committee of the Board and to the Board of Directors.
Almost one year later "no action has been taken," according to NIB sources.
Employees claimed that one executive member is being "wrongly targeted" while those who are allegedly part of the scam "remain on the job." Employees are now calling on Persad-Poliah “to give the public answers.”
In an immediate response, Persad-Poliah told the Sunday Guardian that whilst this was an ongoing investigation and the NIB could not directly comment, "the NIB takes a zero-tolerance approach to fraud."
She said NIB has a robust Fraud Control Framework and "all allegations are thoroughly investigated utilising best practice methods, experience and expertise; a combination of well-trained in-house investigators, external consultants and the T&T Police Service Fraud Squad."
Persad-Poliah said she was "unaware of such an allegation" that an executive member was being targeted. She said the NIB has an efficient and effective grievance policy that "provides employees with a mechanism to expeditiously resolve issues of concern."
The maternity scam is said to be just one of other scams that have been allegedly discovered at NIB.
Last year, in the corporate communications department it was discovered that rooms were being "illegally" rented out for private functions, including weddings.
A member of the public who had paid money to host a wedding at a room at NIB’s head office reported the "illegal rental arrangement" to the office of the executive director.
"A worker resigned in the midst of this fiasco," the NIB source said.
That worker, the source added, was also fingered in another scam. It was discovered that the worker was allegedly caught tampering and inflating bids submitted for the purchase of hot cross buns to ensure a family member received the baking contract.
"The billion-dollar enterprises usually give staff complementary hot cross buns in celebration of Easter. The distribution of the sweet delicacy is in keeping with NIB decision to show respect of all religious holidays. Snacks are also distributed to staff during Divali, Eid, and Christmas," the source said.
With respect to that particular worker, Persad-Poliah confirmed that the individual is no longer with the NIB.
"Employee misconduct is subject to investigation and disciplinary process…This was an isolated incident," she said.
"Procurement is governed by a comprehensive policy with a robust checks and balances system which protects against conflict of interest. Breaches of this policy are subject to stringent disciplinary and or auditing processes."
There were also allegations that contracts were being distributed without proper procedures being followed. Sources said it was discovered that quotes were being received from ghost contractors and it was expected that quotations were to be received from three establishments.
Persad-Poliah denied any knowledge of this, but used the opportunity to reiterate NIB’s take on its procurement policy, "It is governed by a comprehensive policy with robust and rigorous tendering procedures for all procurement with various levels of oversight and controls aimed at preventing unfair or fraudulent procurement practices."...
Most Likely the Actuaries are PNM and told what to do and say just like the EBC.Redman wrote:So the Actuaries make a recommendation....and you complaining.
It eh now that NIB insolvent....maybe the time to do something was when oil was at 100.
tiger balm wrote:Keep it up. Our children and grandchildren will just have to pay for our pension.
Dizzy28 wrote:Legalization of the status of immigrants and having them join the NIS programme would help alleviate this though.
zoom rader wrote:Most Likely the Actuaries are PNM and told what to do and say just like the EBC.Redman wrote:So the Actuaries make a recommendation....and you complaining.
It eh now that NIB insolvent....maybe the time to do something was when oil was at 100.
Think of it employers want you to retire at 60 and then you have to wait till 65 to get what is yours. Then you have to jump through hoops to get your pension. Dealing with NIS is no easy task as they are all PNM working there and could not care less about the public.
zoom rader wrote:Most Likely the Actuaries are PNM and told what to do and say just like the EBC.Redman wrote:So the Actuaries make a recommendation....and you complaining.
It eh now that NIB insolvent....maybe the time to do something was when oil was at 100.
Think of it employers want you to retire at 60 and then you have to wait till 65 to get what is yours. Then you have to jump through hoops to get your pension. Dealing with NIS is no easy task as they are all PNM working there and could not care less about the public.
ADONI wrote:Dizzy28 wrote:Legalization of the status of immigrants and having them join the NIS programme would help alleviate this though.
Nooooooo!!! We like to hire them for that reason self!
Dizzy28 wrote:Legalization of the status of immigrants and having them join the NIS programme would help alleviate this though.
Average wrote:ADONI wrote:Dizzy28 wrote:Legalization of the status of immigrants and having them join the NIS programme would help alleviate this though.
Nooooooo!!! We like to hire them for that reason self!
Sad but true.
toyolink wrote:A lot of information seems to be missing in my opinion.
The argument that the number of individuals who are now pensionable and other classifications of claimants as compared with collection rate from contributors is the cause of issues is omitting a lot of other facts.
-The numbers of people qualifying for pensions is by no means magical.
-Inflows are a combination of contributions and returns on sizeable fund investments.
-The ability of NIB to keep ahead of the curve has to do with astute and timely management.
The gap in accountability seems to reside in the performance of the loan and investment portfolio....for me.
What are the levels of delinquent and under-performing loans and investments NIB has on its books?
Has NIB financed any large speculative real estate projects over the last 10-15 years and what is the status of said facilities?
tiger balm wrote:Well this is what happens when you keep raising pension etc election time to win votes...
88sins wrote:tiger balm wrote:Well this is what happens when you keep raising pension etc election time to win votes...
whether to sway elderly voters or not, the pension needed to increase to keep up with inflation & the current cost of living. Don't believe it?
For the next 6 months try living on $2000/month to pay for food, utilities, medication, property tax/rent, maintaining a lil vehicle you already paid for before you retired, & other expenses. You'd be amazed at the things $2K can't buy
toyolink wrote:A lot of information seems to be missing in my opinion.
The argument that the number of individuals who are now pensionable and other classifications of claimants as compared with collection rate from contributors is the cause of issues is omitting a lot of other facts.
-The numbers of people qualifying for pensions is by no means magical.
-Inflows are a combination of contributions and returns on sizeable fund investments.
-The ability of NIB to keep ahead of the curve has to do with astute and timely management.
The gap in accountability seems to reside in the performance of the loan and investment portfolio....for me.
What are the levels of delinquent and under-performing loans and investments NIB has on its books?
Has NIB financed any large speculative real estate projects over the last 10-15 years and what is the status of said facilities?
cutthroatInt wrote:Can someone confirm if it has changed re; being able to pay your NIS contributions on your own in times of unemployment
Sent from my SM-T280 using Tapatalk
cutthroatInt wrote:As of 4 yrs ago you could not pay for yourself. Unless you have a personal registered company and you are an employer paying yourself. I enquired when I was laid off then. And not a soul in NIB sando office knew about paying on your own or could give you guidance on what to do.
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