News

News

National Insurance 2024 Adjustments to Insurable Wage, Pensions and Grants

National Insurance 2024 Adjustments to Insurable Wage, Pensions and Grants

6/4/2024 2:19:21 AM
National Insurance adjustments to the insurable wage, pensions and grants ensures that workers can insure more of their income and that Benefits offered remain relevant and adequately meet the needs of Bahamians by staying in line with inflation. This adjustment (increase) in the wage ceiling is based on the change in the retail price index over the two previous calendar years plus 2%. As of July 1, 2024 the weekly insurable wage will increase from $740 per week to $810 per week and from $3,207 per month to $3,510 per month. The first automatic increase occurred in July 2014 and occurs every two years. The next adjustment is scheduled for July 1, 2024.

Comments (0) Add Comment Add Comment
Name

Comment
Captcha
Enter the code from the picture
Occupational Health & Safety Unit (OHSU) Relocation
The public is advised that the OCCUPATIONAL HEALTH & SAFETY UNIT (OHSU) will begin operating from the NIB CARMICHAEL ROAD COMPLEX adjacent to The Walk-In Clinic as of January 30, 2017
Town Centre Mall Registration Centre Temporary Closure
The National Insurance Board wishes to advise the general public that the Town Centre Mall Registration Centre will be closed until further notice.
NIB Welcomes New Director
NIB Welcomes New Director
9/7/2016 10:51:19 AM
Ms. Renae McKay, Chairman of the National Insurance Board, is pleased to announce the appointment of Ms. Patricia Hermanns to the post of Director...
Introducing Our New Call Centre
Introducing Our New Call Centre
6/10/2016 4:09:58 PM
NIB has introduced a new call centre to better serve you our valued customers.
NIB 2016 Rate Increases
NIB 2016 Rate Increases
6/2/2016 4:42:53 PM
Letter of Apology
5/13/2016 10:44:26 AM
NIB apologizes to customers