By Val Matthias. Updated 10:54 a.m., Tuesday, February 24, 2026, Atlantic Standard Time (GMT-4).
Stephen Joachim, the newly appointed Chairman of the National Insurance Services (NIS) Board, has moved to defend his independence and professional competence amid public debate over his selection.
Speaking on radio, Joachim underscored that the chairman’s role is to set policy direction rather than manage daily operations. “The chairman is somebody who leads a board of director, we do not deal in day to day management,” he said.
He noted that the position carries a stipend of about $1,000 monthly, while other board members receive $500.
Much of the criticism surrounding his appointment has focused on values and political loyalty rather than ability. Joachim dismissed claims of partisanship, insisting he is “not a party hack” and has openly criticised both major political parties.
“Do we want the best people or don’t we? Opinions are different from facts. Just don’t confuse the two,” he said.
Pointing to his professional record, Joachim argued that his qualifications justify his appointment. “There are very few people in this country with my kind of qualifications and experience and all of that put together,” he stated, adding that competence should be judged on merit, not political affiliation. He described himself as “intelligent somewhat, somewhat sensible, and capable of listening to people,” stressing that civil disagreement is a hallmark of leadership.
One of the most contentious issues has been Joachim’s past comments on the value of life, where he argued that younger lives hold greater economic value than older ones. “As you get older, you decline in value. Sorry guys, that’s reality. It’s controversial, but it happens to be true,” he said. Joachim acknowledged the discomfort such remarks cause but maintained his intent was to provoke thought rather than disrespect.
Turning to policy, Joachim highlighted the sustainability challenges facing the NIS, citing declining birth rates and the need to balance current pension payments with future obligations. “If you double what the pensioners are getting from now, you can run out of money really quickly. Then how do you meet the obligations of the people who are 40 years old?” he asked.
Public reaction to his appointment has been mixed. Critics point to his outspoken style and controversial remarks, while supporters argue that competence should be the primary criterion. Joachim signalled that he would not hesitate to step aside if government policy diverges sharply from his principles. “If I feel strongly enough, I prefer to step aside and let you do what you need to do,” he said.
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