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NIB Urges Employers to File C10 Contribution Statements For Quick Benefit Payments
News
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 Urges Employers to File C10 Contribution Statements For Quick Benefit Payments
4/15/2020 3:18:51 PM
The National Insurance Board (NIB) is appealing to employers who have not recently filed their contributions statements (C10s) and have laid off staff to file the C10s as soon as possible so that the Unemployment Benefit (UEB) can be paid quickly. For the last year, NIB has stepped up its enforcement efforts to ensure that employers file their contribution statements and make their NIB payments. At this point, the most important issue is for NIB to have the C10 statements so that insurable wages can be calculated and credited to the employees’ accounts.
To date, NIB was able to quickly process over 12,000 Unemployment Benefit (UEB) applications related to COVID-19. However, there are another 2,000 claims in process which have been stalled because of the lack of C10 information. Without the C10 forms which contain the wage information, NIB cannot accurately determine a person’s insurable wage which is used to calculate the unemployment benefit. These claims may also be deemed ineligible by NIB’s claims system as the person may not have sufficient contributions to meet the requirements without the additional months of C10 data added.
NIB is urging all employers who are not up to date with their C10 statements to file them immediately using the MS Excel C10 spreadsheet found on NIB’s website (see Library Tab). This process allows the MS Excel C10s to be uploaded to NIB’s system quickly versus being manually keyed in when paper, handwritten or scanned C10 forms are submitted. Employers, who are able to do so, are encouraged to register with the Employer Self Service portal, via
ESS@nib-bahamas.com
. The ESS portal allows C10s forms to be automatically uploaded to the system and immediately credited to their employees’ accounts allowing for faster processing and payment of UEB claims.
NIB has implemented an innovative work around process for employers with 20 or more employees to pay UEB to their employees quickly. Employers interested in this solution should make contact with the Director at
director@nib-bahamas.com
or the Financial Controller at
Sgill@nib-bahamas.com
so that NIB can use this alternative process to pay UEB to affected employees.
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Bahamas Weekly Article - Phase I of National Prescription Drug Plan
2/11/2010 10:37:00 AM
By Matt Maura Marsh Harbour, Abaco, Bahamas - The National Prescription Drug Plan will provide free medications for 11 chronic, non-communicable diseases to 35,000 Bahamians in its initial stage, Tami Francis, Drug Plan Project Manager said Tuesday.
Gregory Collie Gets NIB Directors Award
2/5/2010 9:40:17 AM
Last year, staff of the National Insurance Board (NIB) embraced the slogan “Excellent Customer Care Starts With ME!” At NIB’s 2010 Leaders Conference, held on Paradise Island in January, Director Algernon Cargill told leaders that the focus of this excellent care must not be limited to the external customer, but should be directed to the internal customers as well. To demonstrate his administration’s commitment to promoting the wellbeing of the internal customer – NIB staff – he announced a number of initiatives, including the establishment of a “Director’s Award” which would annually honor those individuals whose outstanding achievements, dedication, leadership, customer service and expertise would have made a significant impact on the organization and its mission over the previous year.
NIB STAFF BRIEFED ON NATIONAL PRESCRIPTION DRUG PLAN
2/4/2010 11:06:15 AM
Top Managers and Customer Service staff of the National Insurance Board received a detailed briefing Tuesday on the National Prescription Drug Plan (NPDP) which is expected to be launched by April 2010.
Press Response to a letter from the Nassau Institute
9/21/2009 12:00:00 AM
The National Insurance Board (NIB) wishes to address and correct “facts” advanced by the Nassau Institute in a letter to the Editor, published in the Nassau Guardian of Saturday, September 19, 2009, and referenced in a Tribune article on September 21, 2009. In that letter, the Nassau Institute incorrectly suggested that National Insurance is proposing an 84.1% increase in taxes
NIB Press Release On Report of 8th Actuarial Review of the National Insurance Fund
9/4/2009 12:00:00 AM
On September 2, 2009, Prime Minister the Right Honourable Hubert Ingraham, tabled in the House of Assembly the report of the 8th Actuarial Review of the National Insurance Fund, which was completed and formally presented to Government in 2008. The Report, which covers a review period from January 2002 to December 2006, gives a comprehensive assessment of the current and future finances of the National Insurance Fund, and reviews the state of the country’s primary social security system from a social standpoint, assessing the adequacy and relevance of the level of benefits now offered. The Review, like all others prior to it, makes recommendations designed to strengthen both the social and financial aspects of the Fund to ensure that National Insurance is able to meet its obligations well into the future. It takes a historical look at past trends and experiences as well as makes financial forecasts for the future. Demographic and financial projections up to 2066 have been presented.
Press Release By the National Insurance Board
7/23/2009 12:00:00 AM
A “business person in Fox Hill” suggested in a letter to the Editor (What’s Going on at NIB? – Tribune 23/09), that with the recent move of Inspectors from the National Insurance Board’s Fox Hill Local Office to its Jumbey Village Local Office in the Clifford Darling Complex, the Board’s operations in Fox Hill will close down. According to Greg Collie, Senior Manager for Compliance with responsibility for the Inspectorate, nothing could be further from the truth. He said the Fox Hill Local Office is not closing down.
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