National Social Security and Welfare Corporation (NASSCORP)

The importance of medical care and pension for the workforce of any nation cannot be over-emphasized. A healthy working population increases production which is beneficial to both the employers and the nation as a whole. The National Social Security and Welfare Corporation (NASSCORP) was established for the welfare of employees in both the public and private economic sectors of Liberia. One important function of the Corporation is the implementation of the Employment Injury Scheme (or EIS), which provides medical benefits for insured employees who sustain job-related injuries or contract occupational diseases. A second vital function is the National Pension Scheme (or NPS), that provides pension benefits to insured employees. Dependents of insured employees can benefit too in case of death of the principal insured. A third major function of the Corporation is to administer the Welfare scheme which has not been launched due to the civil crisis and Government’s inability to mobilize funds for the scheme. Prior to the establishment of NASSCORP, the Government of Liberia under the Presidency of Edwin J. Barclay set up the Provident Fund in the 1930s. The effort was short-lived as the fund was quickly depleted due to misdirection. During the 1940s, the government again desperately attempted to reestablish the Provident Fund, this time under the patronage of the then Treasury Department, but the exercise failed as well. However, in the late 1960s, under the Presidency of William V.S. Tubman, a study conducted by experts of the International Labor Organization (ILO) proved that the introduction of a social security program in Liberia would be viable. So, in the 1970s, the then Department of Planning and Economic Affairs, with technical assistance from the United Nations and the International Labor Organization (ILO), undertook preliminary investigations into the feasibility of introducing social insurance in Liberia.