News

News

Fake Ad

Fake Ad

8/13/2024 4:06:11 PM
Every 2 years, based on the 2010 Amendments to the National Insurance Regulations, there is an automatic increase to the insurable wage ceiling, pensions and specified grants. The most recent increase took effect on July 1, 2024, and is based on the change in the retail price index in the two previous calendar years.

This increase of 5% to pensions will be reflected in October 2024 pension payments, along with retroactive payments from July of this year.



Comments (0) Add Comment Add Comment
Name

Comment
Captcha
Enter the code from the picture
NIB Celebrates Bahamas' 51st Independence
NIB Celebrates Bahamas' 51st Independence
7/15/2024 4:35:29 PM
NIB Celebrates Bahamas' 51st Independence
NIB featured presenter at PLP New Providence Women’s Branch Monthly Meeting
NIB featured presenter at PLP New Providence Women’s Branch Monthly Meeting
6/25/2024 5:52:59 AM
At their monthly meeting on Sunday, June 23, 2024, members of the PLP New Providence Women's Branch were treated to an insightful and engaging presentation on NIB's benefits and assistances, and the upcoming Insurable Wage and Contribution Rates Increase. The featured presenter was Dr. Tami Francis, Deputy Director of Core Operations & Actuarial Services, who was accompanied by Mrs. Jemma Roache, Assistant Internal Auditor at NIB.
NIB participates in the Ministry of Finance’s Voluntary Compliance Exercise
NIB participates in the Ministry of Finance’s Voluntary Compliance Exercise
6/12/2024 2:06:05 PM
The National Insurance Board, along with key stakeholders, partnered with the Ministry of Finance for a Voluntary Compliance Exercise from Monday, June 3 – Saturday, June 8, 2024
National Insurance (NI) Insurable Wage Ceiling Adjustment
National Insurance (NI) Insurable Wage Ceiling Adjustment
6/11/2024 2:57:47 PM
What is the NI Insurable Wage Ceiling Adjustment ? The adjustment (increase) in the insurable wage ceiling is based on the change in the retail price index and change in salaries paid over the two previous calendar years plus 2%. The first automatic increase occurred in July 2014 and occurs every two years.
NIB hosts Grand Bahama Chamber of Commerce Meeting
NIB hosts Grand Bahama Chamber of Commerce Meeting
6/11/2024 1:38:53 PM
In preparation for the July 1, 2024 contribution rates increase, the National Insurance Board (NIB) collaborated with the Grand Bahama Chamber of Commerce, and hosted their monthly business meeting on May 29, 2024 at the Pelican Bay Hotel.
National Insurance 2024 Adjustments to Insurable Wage, Pensions and Grants
National Insurance 2024 Adjustments to Insurable Wage, Pensions and Grants
6/4/2024 2:19:21 AM
National Insurance 2024 Adjustments to Insurable Wage, Pensions and Grants