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Early Office Closure All NIB Offices
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The National Insurance Board wishes to advise the public that all NIB offices will close on Thursday...
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4/14/2025 1:42:32 PM
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The National Insurance Board of The Bahamas (NIB) is seeing proposals from eligible insurance compan...
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3/21/2025 5:21:36 PM
We are pleased to announce that The National Insurance Board of The Bahamas (NIB) is partnering with...
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Public Notice - Temporary Office Closure - San Salvador Local Office
1/29/2025 4:10:57 PM
The National Insurance Board wishes to advise the public that the San Salvador Local Office will CLO...
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Direct Deposit
5/19/2010 7:30:11 AM
In February 2006, the National Insurance Board (NIB) began the initiative to have all long-term benefit and assistance payments deposited directly into pensioners’ bank accounts. Apart from the efficiency gained as a result of the direct deposit, NIB considered the initiative to be a significant step forward in ensuring that the actual process of paying pensions and assistance payments was more humane and individualized, as well as confidential.
Since February 2006, NIB has had relatively good success with its push for direct deposits; however, there remain several hundred pensioners who still collect payments from pay stations for various reasons. To increase the conversion rate to 100%, i.e., to ensure that all payments are direct deposited, NIB earlier this year solicited the assistance of the Bank of The Bahamas (BOB), who quickly came on board with a process for opening bank accounts at our New Providence Local Offices, to facilitate the smooth deposit of NIB payments. Since February of this year, more than 100 pensioners have taken advantage of BOB’s in-house presence at NIB pay stations in New Providence to open the required bank accounts.
With the measure of success with direct deposits, NIB made the decision that April 2010 would be the last month in which pensioners in New Providence would be able to collect cheques in person. In March and April during pension payment times, the affected pensioners were notified in writing and by word of mouth of this decision. Going forward, pension payments to individuals in New Providence will be made through direct bank deposits only, and over the next few months, the same strategy will apply in all islands where this option is convenient to pensioners, and where NIB does not make cash payments due to the absence of a Financial Institution and/or Post Office.
It is acknowledged that this firm change in our policy may create a problem for some who may still be without bank accounts; therefore, on Tuesday, May 25, Bank of The Bahamas will again have officers at NIB’s Jumbey Village Local Office to facilitate the opening of accounts. Cheques will only be issued to persons bringing in their bank account information, opening bank accounts with BOB on that day, or in cases where it can be confirmed that opening a bank account is not possible.
NIB recognizes that the Bank of The Bahamas may not be the preferred bank of all of its pensioners. In this regard, while the convenient option for bank account opening will exist at our Head Office on the specified date(s), claimants are free to choose any other bank, including the Post Office Bank with convenient locations throughout the island, and to bring in the account details to facilitate the May payment via cheque and all future payments via direct deposit.
To open an account with BOB, bring along a copy of your passport or birth certificate, and your National Insurance card. If you do not have a passport or birth certificate, Bank officials will use your National Insurance seniors/pensioners card as identification.
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Marsh Habour Office Re-opens
11/4/2019 4:27:39 PM
The National Insurance Board Wishes to advise the public that our Marsh Habour office has re-opened for business.
NIB Pilots Online Portal for Employers
10/30/2019 8:33:51 AM
On October 7 of this year, the National Insurance Board (NIB) celebrated 45 years of social security administration in The Bahamas.Throughout its history, the Board has improved its service delivery by introducing innovative and convenient products and services to thousands of workers and employers who participate in the social security programme.
Abaco Office Reopen
10/28/2019 2:38:22 PM
The National Insurance Board is please to announce that our Abaco office is open to the public for half days until our systems are fully restored.
The National Insurance Board Continuing to Work with Staff Union While Improving Efficiency and Managing Administrative Costs
10/28/2019 1:43:10 PM
The National Insurance Board Continuing to Work with Staff Union While Improving Efficiency and Managing Administrative Costs The National Insurance Board continues to cooperate in good faith with its staff union, the Union of Public Officers (UPO), to assist the Ministry of the Public Service and National Insurance to conclude negotiations on the new Industrial Agreement in an environment where the Board has to improve its efficiency targets and better manage administrative costs.
NIB Celebrated 45 Years of Social Security Administration in The Bahamas
10/26/2019 1:22:33 AM
On October 7, 2019, the National Insurance Board celebrated 45 years of social security administration in The Bahamas. To commemorate this milestone, NIB has planned a number of community outreach and staff activities. The Board kicked off the celebrations by observing Customer Appreciation Day on October 17th at its offices throughout The Bahamas.
NIB staff visited 13 Senior Homes in New Providence
10/25/2019 3:22:19 AM
As a part of the National Insurance Board’s 45th anniversary celebrations, NIB staff visited 13 Senior Homes in New Providence, Grand Bahama and Andros. Staff members volunteered
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