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
DESIGN AND IMPLEMENTATION OF NETWORK INFRASTRUCTURE FOR NIB FAMILY ISLAND OFFICES
DESIGN AND IMPLEMENTATION OF NETWORK INFRASTRUCTURE FOR NIB FAMILY ISLAND OFFICES
2/20/2020 4:02:05 PM
The National Insurance Board (NIB) is seeking suitably qualified companies to provide design and implementation services to upgrade the network infrastructure at its local offices throughout The Bahamas. READ MORE...
NIB Open House 2020
NIB Open House 2020
1/28/2020 9:22:15 AM
The National Insurance Board invites the general public to stop by our Open House where the Registration and Compliance departments will be open to provide full services.
Expression of Interest Electronic Payment System
Expression of Interest Electronic Payment System
12/4/2019 10:55:52 PM
NIB Continues to Seek a Resonable Conclusion to its Industrial Agreement
NIB Continues to Seek a Resonable Conclusion to its Industrial Agreement
12/4/2019 10:31:53 PM
On Friday, November 29, 2019 the Union of Public Officers (UPO) staged a demonstration at The National Insurance Board’s Headquarters, Clifford Darling Complex, Baillou Hill Road....
Employer Self Service
Employer Self Service
11/28/2019 2:04:33 PM
The National Insurance Board is please to inform the public...READ MORE
NHI EXPERIENCE
NHI EXPERIENCE
11/17/2019 4:52:28 AM