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NIB PAYS 32 THOUSAND APPLICANTS FOR UNEMPLOYMENT BENEFITS AND ASSISTANCE

NIB PAYS 32 THOUSAND APPLICANTS FOR UNEMPLOYMENT BENEFITS AND ASSISTANCE

5/19/2020 4:53:35 PM
The National Insurance Board is pleased to advise the status of Unemployment Benefit and Unemployment Assistance Payments as of Friday 15th May, 2020.

Covid-19 related Unemployment Benefit (UEB) payments now stand at 26,185 claimants paid, for a total payout of $28.7 million. Through the cooperation of employers, NIB has been provided with recent C10 forms for thousands of outstanding claims, which will be processed using an expedited approach. NIB has also been granted approval to pay claims where there is a reasonable expectation that the claimants would meet the necessary eligibility requirement. NIB will utilize digital payments (i.e. direct bank deposit or digital vouchers) to facilitate quick payment to claimants.

There are, however, some claims for which recent contribution information is not available, and further follow up with the employer is necessary before claims can proceed. Employers are again urged to supply the necessary C10 forms using NIB’s official MS Excel format to support the claims. The MS Excel file format, found on the NIB’s website, allows for easy uploading of contribution information to the insurance administration system.

With respect to the Government Unemployment Assistance (UEA) Programme, NIB has now completed $6.2 million in payments to 6,105 recipients. NIB notes the considerable slow down in applications for this programme over the last few weeks. As the economy reopens, self employed recipients are urged to notify NIB of their return to work.

NIB’s system, operations and processes have been stretched over the past weeks to deal with the unprecedented level of unemployment applications, while addressing ongoing claims for other benefits, such as maternity and sickness. However, given the new streamlined approach and innovations to its payment processes towards digital solutions, NIB anticipates concluding the remaining claims in the shortest possible time in a safe and efficient manner.

NIB thanks the public for its patience during this crisis.

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For more information regarding NIB visit our website at: www.nib-bahamas.com or our Facebook page. Media Contact:| Tonique Williams, Manager, Public Relations | tonique.williams@nib-bahamas.com

-END-

Click here to view the Press Statement.
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Response to Tribune article
4/9/2009 12:00:00 AM
Derek Osborne, Consultant Actuary at the National Insurance Board is advising the public that though the 8th Actuarial Review of the National Insurance Fund, which includes long-term projections of the Fund and recommendations aimed at enhancing the Fund’s long-term sustainability as well as its ongoing relevance, has been completed, it has not yet been tabled in Parliament as is required by law.
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3/13/2009 12:00:00 AM
Algernon Cargill, Director of the National Insurance Board (NIB) is responding to a Tribune article (March 12, 2009) that suggested that members of the business community are in a state of “enormous consternation” over the Board’s current and ongoing process of updating its contribution records. Though NIB has addressed this issue in the recent past, the NIB Director wishes to say once again that the Board is obligated by the National Insurance Act to ensure that all employers have paid the amount of contributions due for each employee for each month, and that contributions submitted are accurately posted or deposited to the accounts of the appropriate employees.
NIB Compliance Press Release
3/11/2009 12:00:00 AM
As was reported in the local media recently, the National Insurance Board (NIB) is increasing its review of the contribution accounts of delinquent employers and self-employed persons in order to ensure compliance with the National Insurance Act (the Act).
The National Insurance Board
3/2/2009 12:00:00 AM
As of March 2, 2009, all claims submitted for short-term benefits by employed persons (i.e., persons who have bosses) must be accompanied by an Employers Certification form (Med 4). The new Med 4 form is a single- sheet addition to the Med 1, Med 1A and Med 2 forms. It requires the employer to certify that an employee is/was/will be off from work for the period stated.
Press Response on clear policy
2/2/2009 12:00:00 AM
The National Insurance Board’s (NIB) primary objective, as mandated in the National Insurance Act, continues to be providing income-replacement for workers when they are unable to work. To deliver on this income-replacement promise to workers of The Bahamas, NIB collects contributions from self-employed persons and from employers on behalf of employees.