News

The public is reminded that NIB has suspended all face to face transactions with the exception of cheque collection.

Millions in unemployment assistance payments continue to flow as the Government and its partners streamline the implementation processes of the Government Unemployment Extension programme (GovUEBex). Since the National Insurance Board (NIB) launched its new online portal to administer the Programme, approximately $8.7 million in assistance has been disbursed to about 18,000 Bahamian workers.

The first payment cycle for the GovUEBex programme will be processed on Thursday, July 23, 2020 for the 14,002 eligible persons who have registered on the new portal. Funds will be available on recipients’ bank accounts within 1-3 days.

The National Insurance Board, after consultation with the Ministry of Finance, is pleased to advise that the Government Unemployment Extension Programme will be extended to persons whose last day at work was Friday 13 March, 2020.

On Monday, July 20, 2020 The National Insurance Board (NIB) will launch a new online portal for eligible individuals to register for the Government-Funded Unemployment Benefit Extension Programme (GovUEBex).

The amendments made to the National Insurance Act in 2010 introduced automatic biennial adjustments to pensions, grants and the wage ceiling. The adjustment to pensions and grants is based on the change in the retail price index in the two previous calendar years prior to the adjustment year.