National Insurance Fund

Our Mission

‘To prudently manage the investment portfolio of the National Insurance Fund to maximize returns on investment within acceptable risk levels and maintain a level of liquidity to facilitate timely payment of National Insurance Scheme benefits’

Our Vision

‘To become a model agency/ entity for the management of pension funds within the Caribbean’.


The Mandate of the Fund is to manage the investment portfolio in a manner that maximises returns on investments so as to provide pensions and other benefits to eligible persons registered under the NIF

The National Insurance Fund (NIF) is funded by contributions paid to the National Insurance Scheme. The contributions are invested by the National Insurance Fund (NIF). Pensions and other benefits eligible under the National Insurance Scheme (NIS) are paid from this Fund.

Through regular actuarial reviews in keeping with The National Insurance Act, a detailed assessment of NIS contribution rate is required for the sustainability of the National Insurance Fund (NIF). Additionally, strengthening the viability of the NIF through appropriate and prudent financing options is therefore of paramount importance.

The strategic outcomes of the Social Security Division of the Ministry of Labour and Social Security include increased compliance with the National Insurance Scheme and a prudently managed National Insurance Fund which will ensure long term sustainability and the provision of improved benefits.

The National Insurance Board was established as Advisory Board on April 1, 1990. The current Board was appointed in Board members are appointed by the Minister with responsibility for Labour and Social Security in April 2016 for a period of two years. The Board provides the management of the diversification of the investments of the National Insurance Fund.

The Board comprises 16 members with experience in banking, investment, finance, legal affairs, real estate and the social sector. The Sub-Committees of The Board are, Investment Audit and Real Estate. Other Boards within the NIF include The NIF Resort Management Board and Cleaveland Resort Board.


The responsibilities of the Board include: 

  • Ensuring the proper financial administration of the National Insurance Fund. 
  • The adoption of a positive and vigorous investment policy to maximise returns on investment of the Fund. 
  • The diversification of asset holdings. 
  • The protection of the integrity of the fund. 
  • Good financial management by the financial statements, which are audited annually. 

The Fund now has a varied portfolio mix as follows: 

  • Money market instruments – GOJ local registered stock (LRS), investment debentures, foreign currency bonds and deposits, GOJ land and infrastructure bonds, short-term money market investments 
  • Equities – listed shares, unlisted shares and unit trusts. 
  • Real estate – commercial, resort, residential properties. 

 The Board works closely with the National Investment Secretariat, a Department within the Ministry of Labour and Social Security in making recommendations to the Minister of Finance and Planning, who has ultimate financial responsibility for the NIF under the National Insurance Act. The Board includes a representative from the Ministry of Finance