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Public Notice: The National Insurance Board (NIB) invites suitably qualified accounting firms
News
Fake Ad
8/13/2024 4:06:11 PM
Every 2 years, based on the 2010 Amendments to the National Insurance Regulations, there is an autom...
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Public Notice: Temporary Fox Hill Local Office Closure
8/12/2024 4:02:42 PM
Fox Hill Local Office will CLOSE on Tuesday, August 13th, 2024 at 1pm and will REOPEN Wednesday Augu...
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Public Notice: Temporary Office Closure
8/2/2024 11:47:11 AM
Fox Hill Local Office will CLOSE on Wednesday, August 7th, 2024 at 1pm and will REOPEN Thursday Augu...
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NIB Rate Sheet- July 2024
7/31/2024 5:58:34 PM
National Insurance adjustments to the insurable wage, pensions and grants ensures that workers can i...
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NIB Celebrates Bahamas' 51st Independence
7/15/2024 4:35:29 PM
NIB Celebrates Bahamas' 51st Independence
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Public Notice: The National Insurance Board (NIB) invites suitably qualified accounting firms
12/29/2021 7:37:52 AM
Public Notice: The National Insurance Board (NIB) invites suitably qualified accounting firms to submit a proposal to serve as independent auditors for the audit of the National Insurance Fund's consolidated financial statements, for a three-year period commencing with the fiscal year ending December 31, 2021. Interested firms may access details on the Government of the Bahamas EProcurement and Supplier Registry Portal at https://suppliers.gov.bs/ Deadline is January 17th, 2022 The National Insurance Board Reserves the right to accept or reject any of all bids/interest that have been submitted for consideration.
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Explanation-of-the-Key-Features-of-the-Amendments-to-the-National-Insurance-Benefits-Contributions-Regulation
11/24/2010 5:20:00 AM
The National Insurance Board (NIB)began operations in October 1974, to ad-minister a social security system that wouldprovide workers and their families withbasic financial protection against the lossof employment earnings in the event ofsickness, childbirth, retirement, invalidity,death, workplace injury (1980), and un-employment (2009). Under NationalInsurance, insured contributors are coveredfor three main types of contingencies –
NIB Notice Summer Students Exemption
6/23/2010 5:02:00 AM
Employers are reminded that summer students between the ages of 14 years and 24 years, who are employed for an aggregate of 10 weeks, between the period June 1 and August 31, in any year, are exempted from paying National Insurance contributions from their earnings. The employer, however, is required to pay contributions of two percent (2%) of the students’insurable wages in respect of their summer earnings.
NIB New Contribution Rate to take effect June 1, 2010
5/27/2010 4:55:00 AM
For the first time since the National Insurance programme started in 1974, the rate of contribution payments will be increased for employed persons. Beginning June 1, 2010, the rate will be increased by 1% – one half percent (.50%) to be paid by the employer, and one-half percent (.50) to be paid by the employee. This means that the current rate of 8.8%, shared 5.4% for employer and 3.4% for employee, will change to 9.8%, shared 5.9% for employer, and 3.9% for employee. This translates to a maximum weekly increase of $2 for the employer and $2 for the employee.
Direct Deposit
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.
Joint Statement by NIB and The Bahamas Pharmaceutical Association
5/12/2010 6:05:32 AM
The National Insurance Board and The Bahamas Pharmaceutical Association announced on Thursday that they are working together to successfully launch the National Prescription Drug Plan (NPDP) in August of this year.
JOINT STATEMENT BY THE NATIONAL INSURANCE BOARD AND THE BAHAMAS PHARMACEUTICAL ASSOCIATION
5/12/2010 4:49:00 AM
The National Insurance Board and The Bahamas Pharmaceutical Association announced on Thursday that they are working together to successfully launch the National Prescription Drug Plan (NPDP) in August of this year.
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