The National Social Security & Welfare Corporation (NASSCORP) of Liberia marked its 50th anniversary with a significant announcement aimed at bolstering the welfare of its beneficiaries and contributing to poverty alleviation efforts within the country. Director General Dewitt B. VonBallmoos unveiled a new benefit floor of US$50.00 per month for every beneficiary, ensuring a minimum level of financial support. This initiative reflects NASSCORP’s commitment to improving the living standards of its beneficiaries, particularly in the face of rising living costs. The announcement, made during the anniversary celebrations in Monrovia, underscored the corporation’s dedication to its social responsibility and its ongoing efforts to provide security and dignity to retirees and the wider community.
VonBallmoos’s address also highlighted the corporation’s impressive history and growth. He recounted how, even in its nascent stages during the 1980s, NASSCORP, operating solely on the Employment Injury Scheme, disbursed US$3.4 million in benefits, providing crucial support to Liberian workers and their families. This early success laid the groundwork for the subsequent expansion of the corporation’s services, including the introduction of the National Pension Scheme in 1988. He attributed NASSCORP’s achievements to the dedication and hard work of its employees, emphasizing their role in transforming the organization into a vital institution that fosters growth, innovation, and excellent service delivery.
The Director General further emphasized the importance of good governance, transparency, and accountability within NASSCORP. He highlighted the efforts made during his 12-year tenure to embed these principles within the organization’s culture, ensuring responsible and ethical operations. VonBallmoos expressed gratitude for the trust placed in him by both previous and current administrations, allowing him to lead the corporation through various stages of growth and transformation. He acknowledged the support received from international organizations like the United Nations and the International Labor Organization, recognizing their contributions in providing technical assistance, conducting actuarial studies and surveys, and drafting legislation crucial to NASSCORP’s establishment and development.
VonBallmoos paid tribute to the founding fathers and former leaders of NASSCORP, acknowledging their pivotal role in shaping the corporation’s foundation and trajectory. He specifically mentioned Francis M. Carbah, his predecessor, for his mentorship and guidance during his early years at the corporation. The Director General recalled NASSCORP’s remarkable journey from a subsidized entity under the Ministry of Planning and Economic Affairs to its current status as a financially independent multi-million dollar corporation. This transformation, he noted, included the acquisition of its own corporate headquarters and regional hubs, a significant achievement considering its previous reliance on rented office spaces.
The 50th anniversary celebration served not just as a commemoration of past achievements but also as a platform to reaffirm NASSCORP’s commitment to the future. VonBallmoos emphasized the corporation’s continued focus on growth, innovation, and service to the nation, reiterating its dedication to building a more inclusive and prosperous future for all Liberians. The new benefit floor represents a tangible manifestation of this commitment, providing a safety net for beneficiaries and contributing to poverty alleviation efforts.
The anniversary celebration culminated in an expression of gratitude to all stakeholders, including past and present government officials, board members, employees, and international partners who have contributed to NASSCORP’s success over the past five decades. The celebration emphasized NASSCORP’s journey of resilience, progress, and its dedication to providing security, dignity, and welfare to its beneficiaries and the wider Liberian community. The US$50.00 minimum benefit stands as a testament to the Corporation’s commitment to its social responsibility and its efforts in contributing to a more equitable and prosperous future for all.
