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
Prescription Refills NPDP
Prescription Refills NPDP
8/30/2019 1:10:51 PM
The National Prescription Drug Plan wishes to advise its members that a “Hurricane Watch or Warning” has been issued.  NIB will allow for early prescription refills if you have less than a two week supply of medication.  To obtain a refill, please present your ACE Prescription Card to any participating pharmacy.
Temporary Closure of Berry Islands office Due to Pending Hurricane Dorian
Temporary Closure of Berry Islands office Due to Pending Hurricane Dorian
8/29/2019 2:15:23 PM
The National Insurance Board wishes to advise the public that our BERRY ISLANDS office will CLOSE at 1:00 p. m. today, Thursday, August 29, 2019
EzPay for Short term Benefits
EzPay for Short term Benefits
8/19/2019 9:25:33 AM
For Sickness, Maternity and Injury benefit claims with EzPay Direct Deposit, payments are made directly to your bank account.
NIB stands ready to work with delinquent employers
8/16/2019 1:28:18 PM
The National Insurance Board (NIB) has established a Serious Arrears Task Force to go after the millions in contributions arrears which are owed to NIB and which fund the pensions and other benefits of the workers of The Bahamas through the National Insurance Fund (the Fund).
Bimini Complex Contract Signing
Bimini Complex Contract Signing
7/16/2019 11:15:24 AM
The National Insurance Board is pleased to advise that the project to construct a new government office complex in Alice Town, Bimini, is being restarted with the signing of the final contract on June 11, 2019 with Pyramid Construction.
Pension Payment Schedule 2019
Pension Payment Schedule 2019
1/2/2019 11:40:10 AM
All persons who receive monthly benefit or assistance payments are required to be verified - i.e., produce notarized documentation in evidence of their continuing eligibility for the payments.