National Social Security and Insurance Trust Act, 2001
The Act establishing the National Social Security and Insurance Trust (NASSIT) and the national social-security (pension) scheme in Sierra Leone.
Summary
The National Social Security and Insurance Trust Act, 2001 established the National Social Security and Insurance Trust (NASSIT) and the national social-security scheme, a contributory pension scheme providing income security for workers in Sierra Leone.
The Act provides for the Trust's establishment, governance and functions, the compulsory membership of employers and employees, the payment of contributions, and the benefits payable — such as retirement, invalidity and survivors' benefits. It provides for the management and investment of the scheme's funds and for its administration and accountability.
It is the foundation of the formal social-security system and has been amended, including in 2016.
Main provisions
- Establishes the National Social Security and Insurance Trust (NASSIT).
- Establishes the national contributory social-security scheme.
- Provides for compulsory membership and the payment of contributions.
- Provides for retirement, invalidity and survivors' benefits.
- Provides for the management and investment of scheme funds.
- Provides for governance, administration and accountability.