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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 of the  National Insurance Board (NIB) with effect from September 1, 2016.  As Director, Ms. Hermanns is the CEO of NIB and heads the Executive Management team responsible for the day-to-day operations of the social security organisation.

Ms. Hermanns is a former banking and insurance executive with more than 30 years’ experience in the financial services sector.  She is credited with managing corporate transitions for greater efficiency and effectiveness, and successfully launching new life and health insurance as well as investment products and services.

 

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IMPACT OF MINIMUM WAGE ON NATIONAL INSURANCE CONTRIBUTIONS
The Government of The Bahamas has announced that there will be an increase in the Minimum Wage effective August 15, 2015. In this regard, the National Insurance Board advises employers that for all workers impacted by the change in the minimum wage, there will be a corresponding increase in contribution payments for the month of August and thereafter.