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Request For Expression of Interest - Refurbishment of Existing Cafeteria & Adjoining Exteria Spaces
5/24/2023 1:48:24 PM
The National Insurance Board (NIB) is looking for a "turnkey" approach, where the CONSULTANT will pr...
NIB Recognized in 50th Independence Celebrations
5/9/2023 11:22:44 PM
The national tree, the Lignum Vitae, is planted at the National Insurance Board’s (NIB) Headquarters...
NIB Participates in Central Bank Literacy Fair and Digital Expo
5/9/2023 11:05:59 PM
The Central Bank of the Bahamas relaunches its Financial Literacy Fair with an expanded platform to ...
Registration and Contributions
5/19/2010 7:30:11 AM
In February 2006, the National Insurance Board (NIB) began the initiative to have all long-term benefit and assistance payments deposited directly into pensioners’ bank accounts. Apart from the efficiency gained as a result of the direct deposit, NIB considered the initiative to be a significant step forward in ensuring that the actual process of paying pensions and assistance payments was more humane and individualized, as well as confidential.
Since February 2006, NIB has had relatively good success with its push for direct deposits; however, there remain several hundred pensioners who still collect payments from pay stations for various reasons. To increase the conversion rate to 100%, i.e., to ensure that all payments are direct deposited, NIB earlier this year solicited the assistance of the Bank of The Bahamas (BOB), who quickly came on board with a process for opening bank accounts at our New Providence Local Offices, to facilitate the smooth deposit of NIB payments. Since February of this year, more than 100 pensioners have taken advantage of BOB’s in-house presence at NIB pay stations in New Providence to open the required bank accounts.
With the measure of success with direct deposits, NIB made the decision that April 2010 would be the last month in which pensioners in New Providence would be able to collect cheques in person. In March and April during pension payment times, the affected pensioners were notified in writing and by word of mouth of this decision. Going forward, pension payments to individuals in New Providence will be made through direct bank deposits only, and over the next few months, the same strategy will apply in all islands where this option is convenient to pensioners, and where NIB does not make cash payments due to the absence of a Financial Institution and/or Post Office.
It is acknowledged that this firm change in our policy may create a problem for some who may still be without bank accounts; therefore, on Tuesday, May 25, Bank of The Bahamas will again have officers at NIB’s Jumbey Village Local Office to facilitate the opening of accounts. Cheques will only be issued to persons bringing in their bank account information, opening bank accounts with BOB on that day, or in cases where it can be confirmed that opening a bank account is not possible.
NIB recognizes that the Bank of The Bahamas may not be the preferred bank of all of its pensioners. In this regard, while the convenient option for bank account opening will exist at our Head Office on the specified date(s), claimants are free to choose any other bank, including the Post Office Bank with convenient locations throughout the island, and to bring in the account details to facilitate the May payment via cheque and all future payments via direct deposit.
To open an account with BOB, bring along a copy of your passport or birth certificate, and your National Insurance card. If you do not have a passport or birth certificate, Bank officials will use your National Insurance seniors/pensioners card as identification.
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NIB Partners with The Salvation Army Annual Red Kettle Bell Fundraiser
12/19/2022 12:52:00 PM
At NIB our Corporate Mission is to provide assistance to those in need. This holiday season, the staff at NIB partnered with The Salvation Army's "Love Beyond Christmas".....
BTC Business INKNOWVATION
11/3/2022 10:24:17 AM
Employers attending the BTC Business INKNOWVATION Work Smarter, Not Harder Small Business Conference....
Over 3200 Employers Have Signed up for the Employers Self Service Portal
10/26/2022 3:11:56 PM
Over 3200 Employers have signed up for the Employers Self Service Portal...
NIB/BTC Business INKNOWVATION
10/24/2022 7:30:31 PM
The National Insurance Board will be a presenter at the BTC Business INKNOWVATION Small Business Conference on Friday October 28, 2022 at the Grand Hyatt, Baha Mar Resort, Nassau, Bahamas. Small businesses in attendance will have an exciting opportunity to hear about NIB’s innovative Employer Self Service (ESS) portal, designed to help employers Work Smarter, Not Harder. The ESS portal provides employers with an essential tool that makes submitting monthly Contributions Statements and payments fast and easy. Small businesses can learn about the benefits of using the Employer Self Service (ESS) portal, request a Live demonstration and sign-up on-site.
NIB celebrates its 48th Anniversary
10/24/2022 3:56:08 PM
NIB celebrated its 48th Anniversary with a Customer Appreciation Day on October 7th, 2022.
External Vacancy - Senior Accounts Clerk – Accounts Department
10/20/2022 2:57:53 PM
The National Insurance Board is inviting suitably qualified candidates to submit applications for the position of Senior Accounts Clerk, Accounts Department.
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