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Biennial Adjustments Pensions and Grants
7/13/2022 3:33:42 PM
The 2010 Amendments made to The National Insurance Regulations introduced automatic biennial adjustm...
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7/8/2022 10:35:12 AM
Happy 49th Independence Bahamas!
Registration and Contributions
NIB Can’t “Write Off” Employees’ Contributions
3/13/2009 12:00:00 AM
NIB Can’t “Write Off” Employees’ Contributions
Algernon Cargill, Director of the National Insurance Board (NIB) is responding to a Tribune article (March 12, 2009) that suggested that members of the business community are in a state of “enormous consternation” over the Board’s current and ongoing process of updating its contribution records. Though NIB has addressed this issue in the recent past, the NIB Director wishes to say once again that the Board is obligated by the National Insurance Act to ensure that all employers have paid the amount of contributions due for each employee for each month, and that contributions submitted are accurately posted or deposited to the accounts of the appropriate employees.
He says, “There is no provision in the law that allows NIB to write off contributions that were outstanding for more than ten years, 20 years, or even 30 years. So, where we encounter missing periods or payments in a person’s contributions account, we are mandated by law to investigate and to resolve it. That means we either determine that there were indeed no contributions payable for the missing periods, or we determine that the employer or self-employed person actually failed to pay contributions for the periods. In the latter case, we must pursue payment. We have no other course of action available to us under the law.”
The NIB Director says that a few people seem to be having a problem grasping this concept of perpetual liability because it appears to go against conventional accounting practices or recommendations; he says that in the case of social security, the absence of a statute of limitation on arrears of contributions has universally been a vital and necessary ingredient in ensuring the financial protection of workers. Further, NIB pays out in excess of $150 million in claims annually. To continue to do this and not challenge the NIB Fund, will require us to continuously improve our collection efficiency and unfortunately. This means that employers or self employed persons who have chosen to not pay NIB contributions in the past, will be required to do so now and to settle arrears.
Says Mr. Cargill, “contributions represent one week of a person’s work life. Social Security – in this case National Insurance – must employ every tool at its disposal to ensure that every week that a person works is duly accounted for, because one contribution can mean the difference between a sick, invalid or aged worker qualifying for a benefit or being disallowed. We, therefore, have to ensure that every eligible contribution is collected and accounted for and when we are confronted with situations that present a conflict, particularly in cases where it appears that NIB’s own record keeping may not be current, we then have to make a commonsense and practical decision based on the contribution history of the employer and/or self employed person. In every case, we make the decision that benefits the employee and it is certainly not the intent to create any state of “enormous consternation.”
“But, NIB does not have the right to discount a person’s entitlement and that’s exactly what we would be doing if we were allowed to write off arrears of contributions.”
With regard to the suggestion that NIB set up a system where employees could verify their contributions, Mr. Cargill says that such a system was put in place in 1972 with the enactment of the National Insurance Act.
He says, “The National Insurance Act always provided employees the right to request from their employers proof of contributions; failing that, employees could go in to any NIB Local Office, at any time, to request an update on their contribution accounts.
“The National Insurance Board about two years ago took this even further with the establishment of the KYC (Know Your Contributions) Unit. KYC allows persons to come in and obtain, in a matter of minutes, a ‘contribution statement’ that contains the history of all their contributions.”
We at the National Insurance Board employ a common sense approach when we look at every employer. Obviously, if an employer has a missing period and has had a history of successive payments, it could be that there is an internal issue and so this and all of the facts are considered when we evaluate every case.
Cargill further states that there are no instances where contribution status letters are denied, so he cannot understand the enormous consternation referenced in the Tribune article.
“It is not NIB’s policy to intentionally delay normal business practices,” he says. “In fact, we have adopted a policy of providing a qualified letter, as well as encouraging employers to enter payment agreements to ensure that normal business activity is not interrupted.”
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Talent Management Closing the Feedback Loop
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Feedback metrics and more traditional deata helped the National Insurance board of The Bahamas commit to customer service.
NIB Computer World Honors
6/16/2011 6:13:00 AM
In connection with its National Prescription Drug Programme (NPDP), the National Insurance Board has had another star added to its crown in a year that has already recorded a number of outstanding successes for the Board. NIB has been named a Laureate in the 2011 Computerworld Honors Programme and is being considered for a second even more celebrated honour. The achievements of NIB and other 2011 Laureates will be recognized publicly on Monday, June 20 at a black tie awards ceremony and gala celebration at the Andrew W. Mellon Auditorium in Washington, DC. Raymond Wells, Deputy Director, Information Technology will represent NIB at the 2011 event.
NIB Contributions Regulations Relative to Hospitality Workers & Pensionable Civil Servants
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For the information of affected persons and the general public, the National Insurance Board wishes to advise that implementation of the July 2010 amendments to the National Insurance Contributions Regulations relative to hotel/hospitality workers, and Pensionable Civil Servants will no longer happen on July 1, 2011, as previously announced; the amendments are now scheduled to take effect on July 1, 2013. These two amendments will be the last of a package of changes, approved by Parliament last year, to take effect. They are aimed at providing better coverage to more workers of the country.
Changes to NIB Contributions and Regulations
12/30/2010 4:39:00 AM
Higher Insurable Wage Ceiling Contributions (for both the employer and the employee) in respect of the employee who makes more than $400 per week has increased. While the rate of contributions remains the same, the new wage ceiling is $500 per week/$2,167 per month. For weekly paid persons, the first salary deduction at the higher rate will be for the pay period in which January 3 falls.
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.
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