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The concept of Social Security evolved from an age-old search of a man for protection against poverty, which breeds grave social ills that not only threaten his survival but also erode his sense of human dignity. It therefore, becomes the duty of the state to operate a mechanism that would provide such protection to its people.
On the 12th day of July 2001, the National Social Security and Insurance Act No. 5 of 2001 was passed in Parliament establishing the National Social Security and Insurance Trust.
The National Social Security and Insurance Trust Act No. 5 of 2001 received the Presidential Assent of the President of the Republic of Sierra Leone, His Excellency Dr. Ahmad Tejan Kabbah on the 20th July 2001.
The National Social Security and Insurance Trust (NASSIT) Act No.5 of 2001 pursuant to Section 1 of same which deals with the commencement date became operational on the 31st of August 2001 pursuant to Statutory Instrument No. 9 of 2001.
On the 15th of July 2004 by Statutory instrument No.9 published in the Gazette and laid before Parliament as required by law, the Minister of Labour, Social Security and Industrial Relations acting pursuant to section 60 of the NASSIT Act. No. 5 of 2001 promulgated into law a set of Regulations which have the force and effect of the law and referred to as the NASSIT REGULATIONS.
These regulations are an amplification of the NASSIT Act. to make it more understandable and effective in application. The said Regulations became operational on the 7th of August 2004 after approval by Parliament.