A Partnership for National Unity says that given the financial predicament of the National Insurance Scheme (NIS), along with its gloomy projections, it will not rule out the privatization of that semi-autonomous entity.APNU is proposing alternatively to enter into some form of Public/Private Sector Partnership in an effort to salvage the institution.The body, which comprises 10 parties,Cheap NFL Jerseys, is also not ruling out the compulsory universality of the scheme, including the self-employed; broadening the range of benefits and consideration of limited, but progressive,Wholesale NFL Jerseys China, unemployment insurance and new modernized legislation to save the institution.APNU explained that a specialized and innovatively funded Social Investment Fund should be established to underwrite the restructuring of the NIS.“In addition, a National Insurance Commission (with local, regional and international specialists as members) should be appointed and tasked with going well beyond the remit of the National Scheme Reform Project that reported in 2007.”The coalition of opposition parties recalled that the ‘NIS Reform Project’ in its 2007 Report had made several recommendations which were not accepted by the Government, though some of the reforms it proposed have been implemented.The original reforms proposed include raising the retirement age to 65; raising the contribution rate; creating a financial reserve to cope with bad times; and improving the efficiency and effectiveness of its administration (including computerization).“These reforms need to be speeded-up and the time for drastic action is now,” according to APNU.The coalition warned that since no major remedial action has been taken, the NIS Scheme continues to plunge into disaster. As it relates to the NIS’s current financial position, APNU pointed out that the scheme generates an annual income of just under $11.5B and of that about G$10B is garnered from contributions to the scheme.“In addition, about $1.5B comes from investment income earned from the NIS investment portfolio.”It was also pointed out that the main expenditures of the NIS are for the payments of Benefits, $9.3B,Cheap Soccer Gear, and administrative expenses $1.4B,Wholesale NHL Jerseys, making a total of $10.7B.APNU contends then that NIS is “therefore, living on the edge with a current surplus of about G$0.7Bn from which it has to finance its capital expenditures.”APNU says too that NIS is projected to go into an overall deficit by the end of 2011 and, on the basis of the present financial pattern,NFL Jerseys From China, there is every indication that five years from now the NIS will be in both a current and overall deficit of about G$1B.It also pointed out too that NIS covers only about 30 per cent of the employed workforce so that the base for its Contributions is limited.“Operationally, the NIS faces many complex problems, including but not limited to the aging workforce; systematic evasion of compliance by employers,China NFL Jerseys, the self-employed and workers; humongous and burdensome financial arrears; an over-abundance of bureaucratic and administrative snafus; high administrative costs (estimated at about one-sixth of its income); and resources tied up with the CLICO/Stanford debacles.”