During the National Insurance Services (NIS) 2026 Pensioners Appreciation Day, several remarks were made regarding the past and incoming leadership of the board.
Prime Minister Dr. Godwin Friday recognized both the past chairman, Lennox Bowman, and the incoming chairman, Steven Joachim. He thanked Bowman for his “public service” and Joachim for offering himself to serve the institution.
Friday commended the board for engaging in early discussions regarding necessary financial reforms to preserve the NIS fund, which had previously faced a potential “existential crisis”.
It was emphasized that the chairman does not unilaterally dictate pension increases.
The Prime Minister stated that pension adjustments are a matter for the board and their advisors based on sustainability.
Similarly, the Director of the NIS, Stewart Haynes, noted that the incoming chairman, Mr. Joachim, would be guided by “independent professional” advice and actuarial valuations rather than making such decisions in isolation.