News

News

Changes to NIB Contributions and Regulations

12/30/2010 4:39:00 AM
Higher Insurable Wage Ceiling
  • Contributions (for both the employer and the employee) in respect of the employee who makes more than $400 per week has increased. While the rate of contributions remains the same, the new wage ceiling is $500 per week/$2,167 per month. For weekly paid persons, the first salary deduction at the higher rate will be for the pay period in which January 3 falls.
  • Contributions for self-employed persons who make more than $1,733 per month have increased. The new ceiling is $2,167 per month, with the first contribution payment on the higher rate due at the end of January.

Click here to read the additional details.

Comments (0) Add Comment Add Comment
Name

Comment
Captcha
Enter the code from the picture
Government Unemployment Programme For Self-Employed Persons
Government Unemployment Programme For Self-Employed Persons
4/8/2020 9:07:01 AM
Given the unprecedented impact of COVID-19 on the Bahamian economy, the Government of the Bahamas has launched a new Unemployment Assistance Programme for Self-Employed (Sole Entrepreneur)...
NIB Concludes Payment Arrangements With Several Companies to Expedite Unemployment Benefit (UEB) Payments
NIB Concludes Payment Arrangements With Several Companies to Expedite Unemployment Benefit (UEB) Payments
4/7/2020 6:33:32 PM
The National Insurance Board is pleased to advise that a number of the processes have been innovated to rapidly get Unemployment Benefit (UEB) payments to claimants, and is concluding agreements with several companies which would allow for the expedited payment of the UEB, for an initial four weeks, or longer if necessary.
Early Pension Payments Update
Early Pension Payments Update
4/7/2020 9:12:24 AM
Public Notice - Early Pension Payments Update
NIB Pays First Tranche of Government UEA Payments
NIB Pays First Tranche of Government UEA Payments
4/5/2020 5:08:42 PM
The National Insurance Board (NIB) is pleased to advise that it has made the first tranche of payments on Friday, 3rd April, 2020 to recipients of the Government Unemployment Assistance Programme for self-employed persons in the tourism sector impacted by the COVID-19 shutdown in the amount of $555,893.66.
Contact NIB Listing
Contact NIB Listing
4/3/2020 1:03:48 PM
See our full directory listing...
EARLY PENSION PAYMENTS
EARLY PENSION PAYMENTS
4/2/2020 9:19:36 AM
The National Insurance Board wishes to advise the public that pension payments for the month of APRIL, 2020 will be made available early.