News

News

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.

The increase was necessitated by the addition of Unemployment Benefit to the National Insurance benefits package; it will only impact Employed Persons - i.e., persons who have bosses. The rate of contributions for all other contributors - self-employed persons, voluntarily insured persons, and Summer students - will not change because contributions paid by them in these categories will not qualify them to receive Unemployment Benefit.

Click here to read the details.


Comments (0) Add Comment Add Comment
Name

Comment
Captcha
Enter the code from the picture
NIB COVID-19 Awareness Training
NIB COVID-19 Awareness Training
3/22/2020 7:19:07 AM
NIB Coronavirus Awareness Training- This video was produced to lend to the health and safety training towards "flattening the curve" of the Coronavirus spread. It is our hope that this provides NIBBERS easy and clear steps to follow within the NIB organization and within your family surroundings.
Government Funded Unemployment Assistance
On Thursday March 26, NIB will begin accepting applications for the Government-Funded Unemployment Assistance which will be extended to self employed persons...
NIB ACTIVATES ORANGE ALERT STAGE IN COVID-19 BUSINESS CONTINUITY PLAN
The National Insurance Board (NIB) has activated its Business Continuity Plan (BCP) to address potential business disruptions, which may come as a result of COVID-19. NIB has been in contact with the National Coordinating Committee to ensure that the necessary actions are consistent with the national response.
National Insurance and Coronavirus/COVID-19
How National Insurance provides for workers when income is suspended due to the Coronavirus/COVID-19 pandemic
The National Insurance Board Statement on COVID-19
The National Insurance Board (NIB) has activated its Business Continuity Plan (BCP) to address the potential for business disruptions which may come as a result of COVID 19 and to ensure the safety and health of our staff and customers.NIB is in contact with the National
Drop Box Payment
Drop Box Payment
3/16/2020 10:00:00 AM
Employers can now take advantage of NIB’s drop box for contribution payments by cheque at NIB Headquarters, Baillou Hill Road; Carmichael Road local office and Cable Beach Post Office.