b'FORGING TRANSFORMATION. FOSTERING SUSTAINABILITY. The economic environment in Trinidad and Tobagoexperienced by our customers, is indicative of the over the current reporting period resulted inNIBTTs commitment to service. Notwithstanding changes to the labour market that have directlythis positive outcome, we aim to continually improve impacted the National Insurance Board of Trinidadour operations and, through annual independent and Tobago (NIBTT). Based on the most recentcustomer satisfaction surveys, the NIBTT will data from the Central Statistical Office, thecontinue to receive valuable feedback from our unemployment rate increased from 4% in the thirdcustomers. This, in turn, will positively impact the quarter (Q3) of Financial Year (FY) 2017 to 5.1% inNIBTT and further highlight improvements which can the same quarter of FY2018. This is reflective of abe made to the National Insurance System. decline in the number of persons with jobs in theOver the years, feedback of this type has been country from approximately 613,600 workers ininstrumental in helping us to develop projects which Q1 of FY2017 to 602,000 workers in Q1 of FY2018.push the boundaries required for efficient service Despite these challenges, the NIBTT has remaineddelivery. In this regard, the NIBTT partnered with focused on improving customer service, whilegovernment agencies, such as the Ministry of Social creating an environment that fosters strong inter- Development and Family Services and the Ministry agency collaboration, robust internal and externalof Labour and Small Enterprise Development, to monitoring systems, as well as providing a platformstrengthen data-sharing relationships, all with the for continuous stakeholder engagement. aim of improving service delivery.Over the course of the financial year, the NIBTT wasI congratulate the entire NIBTT family for achieving able to make considerable strides toward successfullyyet another successful financial year. The hard work rationalising its contribution collections processes.and dedication to duty, despite the many challenges These changes have contributed to an increase in thein our operating environment, ensured that the collection of contribution income, notwithstandingorganisation achieved its targets. I am optimistic job losses which occurred throughout the labourabout the future of the NIBTT and of its capacity to market. Complementing these changes in ourcontinue a growth momentum with each succeeding contribution collection processes were revisions toyear. The NIBTT is a noble institution administering the investment policywithin statutorily stipulateda critical service in the national interest: the boundariesto ensure optimal returns on ourresponsibilities are weighty, and the expectations investments while still adhering to best-practiceare high. However, we have emerged triumphant yet standards in portfolio and risk management.another year. While these initiatives have been successful in strengthening the income side of our operational equation, the management of the NIBTT remainsThe NIBTT has remained focused on cognisant of the need to advance the implementation of key recommendations of the 9th Actuarial Review,improving customer service, while inclusive of incrementally increasing the age forcreating an environment that fosters receiving a full pension to 65 years. This measure will address the expenditure side of our operationsstrong inter-agency collaboration, so that financial balance may be restored, thereby ensuring the long-term sustainability of the Nationalrobust internal and external Insurance System. monitoring systems, as well as During the reporting period, the NIBTT was successful in meeting its commitment to itsproviding a platform for continuous customers, which resulted in a Customer Satisfaction score of 91%. This high level of satisfactionstakeholder engagement.19'