News

News

NIB Provisions and Procedures for Pension Beneficiaries Care Facility Transition

NIB Provisions and Procedures for Pension Beneficiaries Care Facility Transition

10/28/2024 3:34:37 PM
The National Insurance Board (NIB) is issuing this statement to clarify the provisions and procedures affecting pension beneficiaries who transition into care facilities. Our goal is to ensure that all beneficiaries are informed and supported regarding their pension entitlements during this significant life change.

Pension Continuation in Care Facilities
For pensioners transitioning to care facilities, NIB pension payments will continue without interruption, providing a stable income source.

Direct Payment Option for Care Facilities
Recognizing that transitioning to a care facility can incur new financial demands, as in some instances individuals incur a cost to reside there. In such cases, where costs are not covered directly by the pensioner or another party, the pensioner can request for their pension funds to be sent directly to the institution to cover their costs. This provision helps alleviate financial strain, ensuring that funds are efficiently allocated for the individual’s care needs.

Notification Requirement
We kindly remind all pensioners to inform NIB of their transition to a care facility. Prompt notification allows for necessary adjustments and ensures timely redirection of pension payments if requested.

Resources and Support
NIB encourages pensioners and their families to reach out for guidance regarding available options. Our customer service team is committed to providing assistance and answering questions related to pension management in the context of care facilities. For further information, please contact NIB’s customer service team at 502-1500.

We understand that the decision to move into a care facility can be challenging, and NIB is dedicated to offering continued support during this time. Our commitment remains to ensure that every pensioner has access to the resources they need for their well-being.

Media Contact: NIB Public Relations Department |Email: nibpublicrelations@nib-bahamas.com
Comments (0) Add Comment Add Comment
Name

Comment
Captcha
Enter the code from the picture
National Prescription Drug Plan (Celebrating 10 Years)
National Prescription Drug Plan (Celebrating 10 Years)
10/1/2020 1:47:33 PM
The National Prescription Drug Plan is one of several initiatives by the Government of The Bahamas...READ MORE...
Pension Cheque Payment for August 2020
Pension Cheque Payment for August 2020
8/20/2020 9:26:45 AM
The National Insurance Board wishes to advise the public that pension payment by cheque for New Providence will be made on Friday August 21, 2020.
TAR Stadium Service List August 18, 2020
TAR Stadium Service List August 18, 2020
8/18/2020 9:31:00 PM
The National Insurance Board wishes to advise the public that the Thomas A. Robinson (TAR) Stadium will be open tomorrow, Wednesday August 19, Friday August 21 and Saturday August 22, 2020. The following persons are asked to visit the TAR Stadium on Thompson Blvd. to see an NIB agent between the hours of 9:00 a.m. – 4:00 p.m. Only persons appearing on the published list will be allowed to see an agent.
NIB Administered Unemployment Programmes
NIB Administered Unemployment Programmes
8/17/2020 2:18:43 PM
The National Insurance Board (NIB) wishes to advise on the progress of the National Insurance Unemployment Benefit (UEB) programme and the two Government-Funded Assistrance programmes which NIB has administered since theonset of the COVID-19 pandemic.
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.