Stephen Joachim, the newly appointed Chairman of the National Insurance Services (NIS) board of directors, has publicly addressed the controversy surrounding his selection, asserting that his professional qualifications and experience render him ideally suited for the role. The Financial Controller of Mustique Company Ltd. defended his appointment during a Hot97 FM interview on Monday, acknowledging his past criticisms of the ruling New Democratic Party (NDP) administration while emphasizing the NIS’s critical national importance.
Prime Minister Godwin Friday announced Joachim’s appointment last Friday, succeeding Lennox Bowman. The decision has sparked significant public debate, particularly on social media platforms where users have highlighted Joachim’s previous critical remarks about current government officials.
Joachim responded to critics with philosophical acceptance, stating, ‘I am cool with that as far as politics goes, people criticise. I don’t care who want to cuss me and criticise me. I am not a party hack. Everybody is entitled to their opinion.’
The incoming chairman revealed that following the 2025 general election, he engaged in discussions with NDP leadership about potentially chairing several boards, including the Bank of St. Vincent and the Grenadines, the National Lotteries Authority, and the Ottley Hall Marina. Joachim specifically advocated for the NIS chairmanship, describing it as ‘the most important entity going forward for the next foreseeable future’ because ‘the NIS deals with people’s lives.’
Joachim expressed concerns about current pension payouts, questioning whether they are sufficient and if the system can afford increased benefits. He highlighted several policy disagreements, including the EC$500 payments to students successful in Caribbean Secondary Education Certificate examinations and the repayment of debts to NIS through real estate transfers instead of cash.
The chairman-designate clarified that his role involves policy guidance rather than operational management: ‘The chairman is not someone who manages the affairs of the entity; the chairman is somebody who leads a board of directors who sets policy for the organisation.’ He noted the position carries minimal financial compensation—EC$1,000 monthly—dismissing suggestions that he accepted the role for monetary gain.
Joachim acknowledged he hasn’t yet received formal appointment documentation but plans to meet with Prime Minister Friday next week to discuss his vision for the NIS’s future as a government institution, while maintaining his willingness to voice disagreements when necessary.