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Early Office Closure All NIB Offices
4/16/2025 3:49:09 PM
The National Insurance Board wishes to advise the public that all NIB offices will close on Thursday...
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NIB and UPO Sign 2024- 2028 Industrial Agreement, Favorable for 450 Union of Public Officers Members
4/14/2025 1:42:32 PM
The National Insurance Board (NIB) is pleased to announce the official signing of the 2024- 2028 Ind...
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Request for Proposal - General Insurance Portfolio
4/1/2025 3:19:47 PM
The National Insurance Board of The Bahamas (NIB) is seeing proposals from eligible insurance compan...
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NIB is Partnering with the Department of Inland Revenue at their Financial Symposium
3/21/2025 5:21:36 PM
We are pleased to announce that The National Insurance Board of The Bahamas (NIB) is partnering with...
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Public Notice - Temporary Office Closure - San Salvador Local Office
1/29/2025 4:10:57 PM
The National Insurance Board wishes to advise the public that the San Salvador Local Office will CLO...
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NIB Building Named In Celebration of Dame Ivy Dumont's Career Milestones
7/11/2021 11:45:16 AM
Dame Ivy Dumont is the most recent living legend to have a building named in her honour. Dame Ivy Dumont’s contributions to nation building span a career in the public service, politics, private sector, and union affiliation. This multi-purpose building funded by the National Insurance Board was ceremonially named the Ivy L. Dumont Building on Monday July 5th, 2021 and houses the Ministry of Education and the Ministry of Youth, Sports, and Culture.
Beyond her noteworthy firsts, as the Bahamas’ first female Governor General and the first and only female Minister of Education, this pioneer has also held Minister of Health and the Environment, Minister of Education and Youth, and Deputy Director of Education posts. She also prides herself on the stepping stone titles that brought her to those positions- seamstress, teacher, and Education Officer, among others.
Prime Minister Dr. Hubert Minnis, who marked the naming ceremony as the start of the country’s 48th Independence Day celebrations, delivered the keynote address. He boasted of Dame Ivy Dumont’s remarkable character and achievements. “Many accomplishments and successes were achieved in large measure because of individuals like Ivy Dumont, who poured her life blood and her heart into education,” he said. Prime Minister Dr. Hubert Minnis added, “There are numerous stories of the many young men and women of various generations Dame Ivy Dumont mentored with kindness and, when needed, a strong and firm hand.”
In addition to unveiling a building sign and plaque with Dame Ivy Dumont’s name, the ceremony featured musical and dance performances by stellar students and tributes by family members and community leaders. Past and present dignitaries representing the Ministries of Education, Youth, Sports and Culture, the Public Service and the National Insurance Board as well as other government agencies and civic partners were also in attendance.
Minister for the Public Service and National Insurance Brensil Rolle, remarked, “it fills me with immeasurable pride knowing that this building is the home of two Ministries: one that has responsibility for ensuring that all persons in The Bahamas are provided with the opportunity to receive a quality education, and the other with responsibility for promoting all aspects of youth development, sporting excellence and Bahamian culture.” The now ‘Ivy L. Dumont Building’ on University Drive, which is owned by the National Insurance Board, is just one of many examples of NIB’s commitment to assist in the social and infrastructural development of the Commonwealth of the Bahamas.
Photo Captions
The now ‘Ivy L. Dumont Building’ on University Drive, which is owned by the National Insurance Board, is just one of many examples of NIB’s commitment to assist in the social and infrastructural development of the Commonwealth of the Bahamas. This multi-purpose building houses the Ministry of Education and the Ministry of Youth, Sports, and Culture. Photo Credit: BIS PHOTO/PATRICK HANNA
L-R: The Honourable Brensil Rolle, Minister for the Public Service and National Insurance; Troy Smith, Chairman of NIB; James Moss, Director of NIB; Geoffrey Stuart, Deputy Chairman of NIB
The Prime Minister and other government dignitaries representing the Ministries of Education, Youth, Sports and Culture, the Public Service and the National Insurance Board celebrated with Dame Ivy Dumont and her family as she unveiled the plaque mounted on the NIB building named in her honour.
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NIB Computer World Honors
6/16/2011 6:13:00 AM
In connection with its National Prescription Drug Programme (NPDP), the National Insurance Board has had another star added to its crown in a year that has already recorded a number of outstanding successes for the Board. NIB has been named a Laureate in the 2011 Computerworld Honors Programme and is being considered for a second even more celebrated honour. The achievements of NIB and other 2011 Laureates will be recognized publicly on Monday, June 20 at a black tie awards ceremony and gala celebration at the Andrew W. Mellon Auditorium in Washington, DC. Raymond Wells, Deputy Director, Information Technology will represent NIB at the 2011 event.
NIB Contributions Regulations Relative to Hospitality Workers & Pensionable Civil Servants
6/9/2011 6:08:00 AM
For the information of affected persons and the general public, the National Insurance Board wishes to advise that implementation of the July 2010 amendments to the National Insurance Contributions Regulations relative to hotel/hospitality workers, and Pensionable Civil Servants will no longer happen on July 1, 2011, as previously announced; the amendments are now scheduled to take effect on July 1, 2013. These two amendments will be the last of a package of changes, approved by Parliament last year, to take effect. They are aimed at providing better coverage to more workers of the country.
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.
Explanation-of-the-Key-Features-of-the-Amendments-to-the-National-Insurance-Benefits-Contributions-Regulation
11/24/2010 5:20:00 AM
The National Insurance Board (NIB)began operations in October 1974, to ad-minister a social security system that wouldprovide workers and their families withbasic financial protection against the lossof employment earnings in the event ofsickness, childbirth, retirement, invalidity,death, workplace injury (1980), and un-employment (2009). Under NationalInsurance, insured contributors are coveredfor three main types of contingencies –
NIB Notice Summer Students Exemption
6/23/2010 5:02:00 AM
Employers are reminded that summer students between the ages of 14 years and 24 years, who are employed for an aggregate of 10 weeks, between the period June 1 and August 31, in any year, are exempted from paying National Insurance contributions from their earnings. The employer, however, is required to pay contributions of two percent (2%) of the students’insurable wages in respect of their summer earnings.
NIB New Contribution Rate to take effect June 1, 2010
5/27/2010 4:55:00 AM
For the first time since the National Insurance programme started in 1974, the rate of contribution payments will be increased for employed persons. Beginning June 1, 2010, the rate will be increased by 1% – one half percent (.50%) to be paid by the employer, and one-half percent (.50) to be paid by the employee. This means that the current rate of 8.8%, shared 5.4% for employer and 3.4% for employee, will change to 9.8%, shared 5.9% for employer, and 3.9% for employee. This translates to a maximum weekly increase of $2 for the employer and $2 for the employee.
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