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
Notice: Office closures and benefit cheque collection in New Providence and Grand Bahama
Notice: Office closures and benefit cheque collection in New Providence and Grand Bahama
8/12/2020 2:58:29 AM
The public is advised that the NIB Headquarters in New Providence and Freeport office locations have been closed to carry out COVID-19 sanitization. The limited staff operations at these locations will resume as soon as possible.
Online & Electronic Services
Online & Electronic Services
8/6/2020 10:54:56 AM
The public is reminded that NIB has suspended all face to face transactions with the exception of cheque collection.
Millions Paid in Assistance as Government Rolls-out GovUEBex Programme
Millions Paid in Assistance as Government Rolls-out GovUEBex Programme
7/30/2020 11:54:01 AM
Millions in unemployment assistance payments continue to flow as the Government and its partners streamline the implementation processes of the Government Unemployment Extension programme (GovUEBex). Since the National Insurance Board (NIB) launched its new online portal to administer the Programme, approximately $8.7 million in assistance has been disbursed to about 18,000 Bahamian workers.
First Payment Cycle for the GovUEBex programme
First Payment Cycle for the GovUEBex programme
7/22/2020 2:26:25 PM
The first payment cycle for the GovUEBex programme will be processed on Thursday, July 23, 2020 for the 14,002 eligible persons who have registered on the new portal. Funds will be available on recipients’ bank accounts within 1-3 days.
GovUEBex PROGRAMME EXPANDS TO INCLUDE MORE ELIGIBLE PERSONS
GovUEBex PROGRAMME EXPANDS TO INCLUDE MORE ELIGIBLE PERSONS
7/21/2020 3:43:44 PM
The National Insurance Board, after consultation with the Ministry of Finance, is pleased to advise that the Government Unemployment Extension Programme will be extended to persons whose last day at work was Friday 13 March, 2020.
Press Statement - NIB WILL LAUNCH NEW ONLINE PORTAL
Press Statement - NIB WILL LAUNCH NEW ONLINE PORTAL
7/17/2020 11:45:02 AM
On Monday, July 20, 2020 The National Insurance Board (NIB) will launch a new online portal for eligible individuals to register for the Government-Funded Unemployment Benefit Extension Programme (GovUEBex).