Labor and Civil Service Minister Rawle Eastmond says it's important that the National Insurance Scheme be restructured immediately.

Starting off debate on the second reading of the Occupational Pension Benefits Bill, 2005, the minister said that with a growing aging population, government needed to ensure the future of the scheme. 

Mr. Eastmond explained that ten years ago there were fourteen thousand people receiving non-contributory and contributory pensions. 

Today, eighteen thousand people are receiving contributory pensions and eleven-thousand non-contributory. 

Mr. Eastmond said that Barbadians had to be responsible as well for their pensions. 

In reply, opposition member Dr. David Estwick, called for an immediate increase in old age pensions. 

Dr. Estwick challenged government to justify why it would support a minimum payment of fifteen hundred dollars for its alternative care for the elderly, but maintained pensions at a minimum of just over $300 per week. 

Dr. Estwick questioned the scheme's local investments in H.R.L Limited, the Warrens project and the recent corporatisation of the Grantley Adams Airport. 

These investments, he said, could not secure the future of Barbadians, if the debts of these entities were written off. 

Dr. Estwick spoke specifically about the NIS investment in H.R.L Limited. 

An opposition MP suggests government find new ways to keep the social security fund liquid. 

St. Lucy representative, Denis Kellman, does not believe the fund would ever run dry, but he thinks a new method of financing has to be found.