News

News

NIB PAYS 32 THOUSAND APPLICANTS FOR UNEMPLOYMENT BENEFITS AND ASSISTANCE

NIB PAYS 32 THOUSAND APPLICANTS FOR UNEMPLOYMENT BENEFITS AND ASSISTANCE

5/19/2020 4:53:35 PM
The National Insurance Board is pleased to advise the status of Unemployment Benefit and Unemployment Assistance Payments as of Friday 15th May, 2020.

Covid-19 related Unemployment Benefit (UEB) payments now stand at 26,185 claimants paid, for a total payout of $28.7 million. Through the cooperation of employers, NIB has been provided with recent C10 forms for thousands of outstanding claims, which will be processed using an expedited approach. NIB has also been granted approval to pay claims where there is a reasonable expectation that the claimants would meet the necessary eligibility requirement. NIB will utilize digital payments (i.e. direct bank deposit or digital vouchers) to facilitate quick payment to claimants.

There are, however, some claims for which recent contribution information is not available, and further follow up with the employer is necessary before claims can proceed. Employers are again urged to supply the necessary C10 forms using NIB’s official MS Excel format to support the claims. The MS Excel file format, found on the NIB’s website, allows for easy uploading of contribution information to the insurance administration system.

With respect to the Government Unemployment Assistance (UEA) Programme, NIB has now completed $6.2 million in payments to 6,105 recipients. NIB notes the considerable slow down in applications for this programme over the last few weeks. As the economy reopens, self employed recipients are urged to notify NIB of their return to work.

NIB’s system, operations and processes have been stretched over the past weeks to deal with the unprecedented level of unemployment applications, while addressing ongoing claims for other benefits, such as maternity and sickness. However, given the new streamlined approach and innovations to its payment processes towards digital solutions, NIB anticipates concluding the remaining claims in the shortest possible time in a safe and efficient manner.

NIB thanks the public for its patience during this crisis.

_________________________________

For more information regarding NIB visit our website at: www.nib-bahamas.com or our Facebook page. Media Contact:| Tonique Williams, Manager, Public Relations | tonique.williams@nib-bahamas.com

-END-

Click here to view the Press Statement.
Comments (0) Add Comment Add Comment
Name

Comment
Captcha
Enter the code from the picture
NIB Partners With Suncash to Pay Government Assistance For Self-Employed
The National Insurance Board has partnered with SunCash, a regulated Supervised Financial Institution, Non-Bank Money Transmission Service Provider, to provide innovative, safe and timely payment option(s) .......
NIB Makes More Than 11 Thousand Unemployment Benefit Payments
The National Insurance Board has paid the claims of 11,662 persons who have lost their income as a result of COVID-19 amounting to just over $5.4 million for the first two-week payment of the unemployment benefit (UEB).
NIB Contribution Payment Options for Employers
For Customers Paying By Credit Card, Cheque, and Online.
Government Unemployment Programme For Self-Employed Persons
Given the unprecedented impact of COVID-19 on the Bahamian economy, the Government of the Bahamas has launched a new Unemployment Assistance Programme for Self-Employed (Sole Entrepreneur)...
NIB Concludes Payment Arrangements With Several Companies to Expedite Unemployment Benefit (UEB) Payments
The National Insurance Board is pleased to advise that a number of the processes have been innovated to rapidly get Unemployment Benefit (UEB) payments to claimants, and is concluding agreements with several companies which would allow for the expedited payment of the UEB, for an initial four weeks, or longer if necessary.
Early Pension Payments Update
Early Pension Payments Update
4/7/2020 9:12:24 AM
Public Notice - Early Pension Payments Update