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NIB Host Inaugural Pensioners’ Day

NIB Host Inaugural Pensioners’ Day

1/23/2024 6:24:00 AM
On Thursday January 18th, 2024 NIB offices throughout the Bahamas hosted an inaugural Pensioners' Day. The initiative hosted from 10:00am-2:00pm welcomed some 900 pensioners for sharing key insights and tips. The main takeaways were to remind pensioners of the importance of verifying twice a year to remain eligible for the continuation of their pension benefit or assistance and to encourage pensioners to transition from in-person pension payment to payment by wire transfers for more efficient customer service.



At NIB's headquarters on Baillou Hill Road, the day was a fun-filled event for all as pensioners were treated to a hearty lunch, music, prizes and surprises. Each pensioner was presented with a special 50th Anniversary gift bag and t-shirt inscribed with, "The Promise Works!", - a reminder of the promise NIB made in 1974 to provide income replacement to eligible persons in time of need. 

Pensioners' Day was just the first of many events planned for 2024 in celebration of NIB's 50th Anniversary. For a complete listing of all events visit the NIB website at https://www.nib-bahamas.com/NIBs-Road-to-50th-Anniversary or stay connected via Facebook or Instagram. #PensionersDay2024 #THEPROMISEWORKS.

 

 

 

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IMPACT OF MINIMUM WAGE ON NATIONAL INSURANCE CONTRIBUTIONS
The Government of The Bahamas has announced that there will be an increase in the Minimum Wage effective August 15, 2015. In this regard, the National Insurance Board advises employers that for all workers impacted by the change in the minimum wage, there will be a corresponding increase in contribution payments for the month of August and thereafter.