The Social Security Investment Committee – that’s the group that decides how the money in the very liquid fund will be invested. With so much liquidity, it’s a critical job, and according to the Godwin Hulse Senate Special Select Committee, those who did it between 2000 and 2002 did it negligently leaving Social Security holding the bag in politically motivated investments in dubious enterprises.
But it’s a new era, Social Security reform is in effect and the committee now has membership from the trade unions and the Chamber of Commerce. But the Chairman is still government appointed; it was announced today that he is Channel 7 Managing Director Nestor Vasquez. He is joined by the other government appointee Winston Michael.
Civil society is represented by Lorelei Westby from the National Trade Union Congress of Belize and Emile Mena from the business sector. The CEO – yet to be named - will also be an ex officio member of the Investment Committee, without a right to vote.
