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Pension Payment Update: Resolving System Issue for Affected Customers

Pension Payment Update: Resolving System Issue for Affected Customers

11/21/2024 1:58:33 PM
The National Insurance Board (NIB) wishes to inform the public, particularly our valued pensioners, that due to an unexpected issue with our insurance management system, there has been a delay in the processing of pension payouts affecting approximately 1% of pensioners, or 400 individuals. 

This delay impacts payments originally scheduled for November 19, 2024 (direct deposits), and November 21, 2024 (cheques), covering pension payouts for both the months of November and December 2024.

Those affected will be issued payments via cheque. Pensioners in New Providence may collect their cheques at NIB Headquarters on Baillou Hill Road starting Monday, November 25, 2024, at 9:00 a.m. Pensioners in the Family Islands may collect their payments at their Local Office beginning Wednesday, November 27, 2024, at 9:00 a.m. 

We sincerely apologize for any inconvenience this may have caused and thank our pensioners for their patience and understanding as we address this matter, Further updates will be posted on our website at www.nib-bahamas.com or via our official Facebook page. Inquiries regarding pension payments may be directed to 502.1882, 502.1708, 502.1718, 396.1970 or 502.1702.


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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.