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
Request for Tender Group Life and Medical Insurance
The National Insurance Board (NIB) invites proposals from eligible insurance companies and/or brokers for the coverage of its life and medical insurance plans for the active and retired employees of NIB.....
NIB Contributions Payment Options for Employers
For Customers Paying by Credit Card and In-Person (Cash or Cheque) and Online options
Facebook Live Session
Facebook Live Session
1/23/2023 9:47:40 AM
NIB Hosts a Facebook LIVE Session featuring DIR and NIB reps discussing all things business related.....
Public Notice Inspectorate All NIB Offices
The National Insurance Board wishes to advise the public that the Inspectorate Department will offer limited services.....
Helping Businesses Win - Doing What It Takes To Help You Succeed
Come Chat In-Person with Our Reps at DIR! Jan 24 - 26, between 9am to 4pm
High Rock Grand Bahama Office Reopens
The National Insurance Board wishes to advise the public that the High Rock Sub Office will open every Tuesday and Thursday,effective January 27th 2023.....