In a recent letter to the editor, K. Murphy asked NIB’s minister and director “why the pension delay?”
It was a valid question; but then he (or she) went on to ask, “How on earth do you expect people who are now relying 100 percent on NIB to survive?”
The people he references are those who recently stopped work and/or recently submitted a claim for pension.
Notwithstanding the sometimes inordinate delays in claims processing at NIB, the glaring problem with Murphy’s criticism is that he seems to attribute the predicament of those “relying 100 percent on NIB” to a failing of the social security scheme, when it is, in fact, attributable to the failings of many to adequately plan for their financial future.
Even if their pensions were processed and paid the day after they retired, the problem still is that they’re relying solely on National Insurance to live – according to Murphy.
They will find it easier to rile against NIB, while altogether missing the point and the purpose of National Insurance.
The end-of-work-life pensions paid by NIB were and are only intended to be supplemental to other sources of income.
Undoubtedly, there are folk who find themselves impoverished by catastrophic events that were beyond their control; however, such is not the case for most.
It is lamentable when a worker reaches the end of his work life and has nothing but National Insurance pensions on which to live.
That’s the calamity, and our advocacy would be best directed in the direction of that truth.
If nothing else, Murphy’s missive should serve as a cautionary tale for many: put your financial houses in order before it’s too late!