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Public Notice !!

To this end, NASSIT is, therefore, pleased to inform all Police and Military personnel that effective from June 2006, they will be paid a full NASSIT pension when they retire at age 55 years.

NASSIT APPRECIATES YOUR PATIENCE AND UNDERSTANDING.

WE CARE FOR EVERYBODY.

The current terms and conditions of service for the Military and the Police allow for early retirement at the age of 55 years, compared to the Statutory age of 60 years, due to the hazardous nature of their employment. This is contrary to the NASSIT Act which pays full pension only at age 60 years for a contributory period of 15 years.

Thus, by the NASSIT Act, the Police and Military personnel are only entitled to a reduced pension. However, for equity purposes, His Excellency the President, Alhaji Dr. Ahmad Tejan Kabbah requested that NASSIT pays these personnel a full pension at age 55 years and eliminate the reduction factor for early retirement. The Government will finance the costs of this charge to the Scheme when implemented.

The results of the recent actuarial valuation of the Scheme show that to finance this new benefit and preserve equity in the whole Scheme, the contribution rate for the Police and Military personnel will have to increase from the current contribution rate of 17.5% to 19.5% from May 2006. The increase in contribution rate by 2% will be borne by the Government of Sierra Leone.