The National Social Security and Insurance Trust (NASSIT) is a Statutory Public Trust set up by the National Social Security and Insurance Trust Act No. 5 of 2001 to administer
Sierra Leone’s National Pension Scheme.
The primary responsibility of the Trust is the part replacement of income lost as a result of the contingencies of old age, invalidity and death. A Le 41 billion has been invested by by NASSIT at an interest rate of 14.5 semi-annually in five year bonds. This bond is a bilateral agreement between NASSIT and the Bank of Sierra Leone. It is considered a huge investment that will be beneficial to many in the near future. It is limited to the commercial banks and the public
Buying government debt instruments is a good investment strategy of the pension-fund manager NASSIT. The interest rates negotiated brings higher returns and are completely risk free.Since the establishment of the Bank of Sierra Leone (BSL) in 1964, this is the longest ever issued.
* I only hope this move is worth while*
Edited from awoko
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