Monrovia, May 12, 2026 — The National Social Security and Welfare Corporation (NASSCORP) says it is marking 50 years since its 1975 establishment with assets valued at about US$141 million and an expanded investment footprint, including major real estate and health projects.
The corporation administers the Employment Injury Scheme (EIS), the National Pension Scheme (NPS), and a welfare program, funded largely by worker and employer contributions.
Director General Dewitt vonBallmoos has headed NASSCORP since 2013, after serving as deputy director general in 2006 and acting director general in 2012.
NASSCORP says its assets increased from US$4.7 million in 2006 to US$50 million by 2025, while an ECOWAS Parliament report placed total assets at about US$141 million.
In October 2025, vonBallmoos was elected chairman of the International Social Security Association’s Technical Commission on Contribution Collection and Compliance for a three-year term, according to NASSCORP.
NASSCORP reports that from February 2006 to December 2022, it paid US$106.47 million to 15,602 beneficiaries under the EIS and NPS. It says US$69.4 million was disbursed from 2020 to 2025, including payments of arrears.
Investment income, the corporation says, rose to US$3.65 million in 2022, with rental earnings of US$823,495 from properties including the Kakata Commercial Building, Lofa Guest House, and its main administrative building.
NASSCORP says a 2022 audit by the Auditor General cited strong internal controls and governance.
The corporation lists NASSCORP House at ELWA Junction in Paynesville as its flagship real estate project and says the building now hosts the Liberia Revenue Authority.
It also reports building and furnishing regional offices and guest houses in Kakata, Buchanan, Tubmanburg and Voinjama, including a 10-bedroom complex in Kakata and a Tubmanburg facility with staff residences.
In 2021, NASSCORP dedicated the Jahmale Medical Solutions Diagnostic Center in Paynesville, consisting of a three-story laboratory and an adjacent four-story clinic, and says it plans to upgrade the facility into a full hospital.
NASSCORP says it recently purchased two acres in Ganta, Nimba County, for a regional headquarters, its first owned property in the county after years of renting.
The corporation links the move to an increase in the region’s active beneficiaries from fewer than 100 to more than 950. It also reports completing 160 low-income housing units in Montserrado and Margibi Counties with partner institutions.
NASSCORP says its holdings include 2,000,000 shares in ECO Transnational Incorporated and 125,000 shares in LBDI, as well as investments in agriculture, health, and commercial real estate.
NASSCORP says it introduced biometric identification, moved payments to direct bank transfers, and built a centralized database to strengthen verification.
Some beneficiaries, including Sinoe County retiree Cheslie Mennoh, say payments have been more consistent since 2020 but argue benefit levels remain low.
VonBallmoos announced in 2025 that beneficiaries would receive a US$50 anniversary bonus and that the minimum monthly pension was set at US$50 or the Liberian-dollar equivalent of L$8,500. NASSCORP also cites emergency assistance during incidents, including the West Point fire, Sinkor floods, a Buchanan rainstorm, Ebola, and COVID-19.
NASSCORP officials say the welfare component of its mandate remains constrained by government financing. At an August 2025 program in Ganta, NASSCORP representative Jenneh Kumba Tamba said, “the government doesn’t have the money to carry on or implement the welfare aspect.”
The corporation also faces contribution-compliance challenges in a largely informal economy, while beneficiaries continue to cite low benefits amid rising living costs.
Senator Nya Twayen has urged the government to settle debts owed to NASSCORP, citing sustainability concerns.
NASSCORP says it is using real estate, health services, and financial instruments to grow reserves and expand coverage, and describes itself as Liberia’s largest domestic institutional investor.
The corporation has also established Liberia Property Incorporated to manage its real estate portfolio, including a lease-back arrangement for NASSCORP House, according to officials. Management says it is seeking amendments to the NASSCORP Act to extend coverage to informal-sector workers.
Officials say the next steps include completing the Ganta headquarters, upgrading Jahmale Medical Solutions into a full hospital, and continuing regional expansion. NASSCORP says it is participating in the Liberia Household Social Registry and the REALISE Project to strengthen targeting for social protection.
The corporation says it has paid more than US$106 million to beneficiaries since 2006 and is seeking broader coverage while maintaining compliance with contribution requirements and benefit payment schedules.
