Finance Minister urges NIS to use technology to track contributions

Finance Minister Dr. Ashni Singh has called on the National Insurance Scheme (NIS) to utilize data analytics and technology to proactively identify and rectify missing employer contributions. Speaking at the NIS 57th Anniversary General Assembly, Singh urged the management to ensure employers receive annual statements of contributions and to use digital tools to detect gaps in payments immediately rather than waiting for enforcement actions or court proceedings.

Additionally, Singh highlighted the progress of the government’s digitization and financial inclusion policies. He noted that the number of pensioners receiving payments directly into bank accounts has increased from approximately 11,000 in 2020 to over 20,000 today. He encouraged the remaining 40,000 pensioners to transition to bank transfers to avoid the inconvenience of collecting pension books or vouchers.

Future plans for the NIS include full digitization of processes, which will allow citizens to interact with the scheme from home and submit Life Certificates via platforms like WhatsApp.