Latest News
Public Notice: Temporary Office Closure – Freeport Local OfficeJuly 23, 2025The National Insurance Board wishes to advise the public that due to electrical issues, the Freeport Local Office will CLOSE at 3:00 pm today. All efforts are being undertaken to resolve this matter. Read More...
Renew Your NIB Card Online With Ease!July 18, 2025NIB Card - EzRENEW - Log on to www.nibonline.nib-bahamas.comRead More...
Public Notice – Public Service Announcement – Uncollected NIB CardsJuly 18, 2025The National Insurance Board (NIB) advises that many new and renewed NIB cards remain uncollected at local offices throughout The Bahamas. Read More...
2024 Adjustments to the Insurable Wage Ceiling, Pensions and Grants
Every 2 years, based on the 2010 Amendments to the National Insurance Regulations, there is an automatic increase which affects pensions, specified grants and the wage ceiling.
The next increase is effective July 1, 2024. It should be noted that the adjustments are not an increase in the Contribution rates, which is also scheduled to change this year, effective July 1 (visit nibrateincrease.com for information).
The National Insurance (NI) Contribution rates are a percentage of an insured person’s wages paid to the National Insurance Fund. The Insurable Wage adjustments ensure that workers can insure more of their income and that Benefits stay in line with inflation.
Biennial Adjustment to the Insurable Wage Ceiling
The adjustment (increase) in the insurable wage ceiling is based on the change in the retail price index over the two previous calendar years plus 2%. As of July 1, 2024, the weekly insurable wage increases from $740 to $810 per week and from $3,207 per month $3,510 per month.
Biennial Adjustment to Grants, Short-term and Long-term Benefits and Assistance
This adjustment is based on the change in the retail price index in the two previous calendar years prior to the adjustment year.
MINIMUM BENEFIT & ASSISTANCE RATES - NEW AWARDS
Categories of investments are as follows:
MATERNITY GRANT & FUNERAL BENEFIT
What's New
