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
NIB Concludes Payment Arrangements With Several Companies to Expedite Unemployment Benefit (UEB) Payments
NIB Concludes Payment Arrangements With Several Companies to Expedite Unemployment Benefit (UEB) Payments
4/7/2020 6:33:32 PM
The National Insurance Board is pleased to advise that a number of the processes have been innovated to rapidly get Unemployment Benefit (UEB) payments to claimants, and is concluding agreements with several companies which would allow for the expedited payment of the UEB, for an initial four weeks, or longer if necessary.
Early Pension Payments Update
Early Pension Payments Update
4/7/2020 9:12:24 AM
Public Notice - Early Pension Payments Update
NIB Pays First Tranche of Government UEA Payments
NIB Pays First Tranche of Government UEA Payments
4/5/2020 5:08:42 PM
The National Insurance Board (NIB) is pleased to advise that it has made the first tranche of payments on Friday, 3rd April, 2020 to recipients of the Government Unemployment Assistance Programme for self-employed persons in the tourism sector impacted by the COVID-19 shutdown in the amount of $555,893.66.
Contact NIB Listing
Contact NIB Listing
4/3/2020 1:03:48 PM
See our full directory listing...
EARLY PENSION PAYMENTS
EARLY PENSION PAYMENTS
4/2/2020 9:19:36 AM
The National Insurance Board wishes to advise the public that pension payments for the month of APRIL, 2020 will be made available early.
Sou Entenet & Sevis Elektwonic
Sou Entenet & Sevis Elektwonic
3/31/2020 5:32:53 PM
Sou semen kap yo, NIB parl sispansyon tout fas a fas tranzaksyon ak eksepsyon an nan