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Public Notice: Public Service Announcement – Uncollected NIB CardsMay 30, 2025The National Insurance Board (NIB) advises that many new and renewed NIB cards remain uncollected at local offices throughout The Bahamas.Read More...
Minister Alfred Sears of the Ministry of Immigration and National Insurance attends the Foreign Ministers and Heads of Delegations meeting on May 12, 2025May 20, 2025Minister Alfred Sears of the Ministry of Immigration and National InsuranceRead More...
Public Notice: Scheduled MaintenanceMay 16, 2025The National Insurance Board wishes to advise the public that due to scheduled maintenanceRead More...
Historical Highlights
1974-1977
* The “First Appointed Day”, “D-Day”, was 7th October, 1974. On this day, all employed persons and their employers were mandatorily brought into the Programme. Massive registration drives were held throughout the country; and contributions were payable based on six (6) wage groups. Also, from this date, all old-age pensions and assistance previously paid through the Welfare Department, became the responsibility of the National Insurance Board.
* The “Second Appointed Day” was 5th April, 1976. On this date, all self-employed persons were brought into the Scheme. Massive registration drives took place and monthly contributions became payable from this group.
* The “Declared Day” was 1st November, 1980. This is when payments of Industrial Benefits to injured employed persons, were introduced. The provisions of the Workmen’s Compensation Act, were repealed.
INTRODUCTION OF THE GENERAL BENEFITS (Social Insurance):
Sickness Benefit became payable on 7th April, 1975 - 26 weeks after the First Appointed Day. Payments ranged from $10 to $54 weekly.
Funeral Benefit became payable on 22nd September, 1975 - 50 weeks after the First Appointed Day. The one-time payment was $200.
Maternity Benefit also became payable on 22nd September, 1975; weekly awards ranged from $10 to $54.
Invalidity Benefit became payable on 22nd August, 1977 - 150 weeks after the introduction of the Programme.
Retirement Benefit became payable on 22nd August, 1977. (Initial monthly payments were $26, this was increased to $40 as of 7th October, 1977.)
Survivors’ Benefit also became payable on 22nd August, 1977.
ASSISTANCE PROGRAMME:
(Social Welfare for needy residents who do not meet the specific contribution conditions for the award of benefits.)
Invalidity Assistance: Previous monthly rate of $13 was increased to $26 when National Insurance assumed responsibility on 7/10/74. Raised to $40 in December, 1978.
Old-Age Non-Contributory Pension: Rate of payment and dates of increase same as Invalidity Assistance.
Sickness Assistance paid at a weekly rate of $6 as of 7th October, 1974, raised to $9.23 weekly in December, 1978.
Survivors’ Assistance: Increased from $13 per month to $26 per month on 7th October, 1974 and to $40 on 7th October, 1977.
ADMINISTRATION & FINANCE
Headquartered on New Providence in the McAlpine Building on Farrington Road, National Insurance was administered by an 11-member Board of Directors, headed by Mr. Earl Thompson, M.P., who reported to the Minister of Labour and Welfare, the Honourable Clifford Darling, M.P., (to June, 1977 after this to the Minister of Health and Housing). The Chief Executive Officer during this period was Mr. Byron Pinder, who served as Director. National Insurance provided service from 12 Regional Offices situated on Abaco (and its keys) - Marsh Harbour; Andros (and the Berry Islands) - Fresh Creek; Bimini - Alice Town; Cat Island - New Bight; Crooked Island & Acklins - Colonel Hill; Eleuthera - Governor’s Harbour; Exuma - George Town; Grand Bahama, Freeport; Inagua - Matthew Town; Long Island - Deadman’s Cay, and San Salvador - Cockburn Town.
At the end of the first triennium, NIB had collected some $58 million in contributions; had paid out over $6 million as benefits/assistances and had a Reserve Fund of over $42 million.
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