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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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A “business person in Fox Hill” suggested in a letter to the Editor (What’s Going on at NIB? – Tribune 23/09), that with the recent move of Inspectors from the National Insurance Board’s Fox Hill Local Office to its Jumbey Village Local Office in the Clifford Darling Complex, the Board’s operations in Fox Hill will close down. According to Greg Collie, Senior Manager for Compliance with responsibility for the Inspectorate, nothing could be further from the truth. He said the Fox Hill Local Office is not closing down.
Response to Tribune article
4/9/2009 12:00:00 AM
Derek Osborne, Consultant Actuary at the National Insurance Board is advising the public that though the 8th Actuarial Review of the National Insurance Fund, which includes long-term projections of the Fund and recommendations aimed at enhancing the Fund’s long-term sustainability as well as its ongoing relevance, has been completed, it has not yet been tabled in Parliament as is required by law.
Algernon Cargill, Director of the National Insurance Board (NIB) is responding to a Tribune article (March 12, 2009) that suggested that members of the business community are in a state of “enormous consternation” over the Board’s current and ongoing process of updating its contribution records. Though NIB has addressed this issue in the recent past, the NIB Director wishes to say once again that the Board is obligated by the National Insurance Act to ensure that all employers have paid the amount of contributions due for each employee for each month, and that contributions submitted are accurately posted or deposited to the accounts of the appropriate employees.
NIB Compliance Press Release
3/11/2009 12:00:00 AM
As was reported in the local media recently, the National Insurance Board (NIB) is increasing its review of the contribution accounts of delinquent employers and self-employed persons in order to ensure compliance with the National Insurance Act (the Act).
The National Insurance Board
3/2/2009 12:00:00 AM
As of March 2, 2009, all claims submitted for short-term benefits by employed persons (i.e., persons who have bosses) must be accompanied by an Employers Certification form (Med 4). The new Med 4 form is a single- sheet addition to the Med 1, Med 1A and Med 2 forms. It requires the employer to certify that an employee is/was/will be off from work for the period stated.
Press Response on clear policy
2/2/2009 12:00:00 AM
The National Insurance Board’s (NIB) primary objective, as mandated in the National Insurance Act, continues to be providing income-replacement for workers when they are unable to work. To deliver on this income-replacement promise to workers of The Bahamas, NIB collects contributions from self-employed persons and from employers on behalf of employees.