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NIB Urges Employers to File C10 Contribution Statements For Quick Benefit Payments

NIB Urges Employers to File C10 Contribution Statements For Quick Benefit Payments

4/15/2020 3:18:51 PM
The National Insurance Board (NIB) is appealing to employers who have not recently filed their contributions statements (C10s) and have laid off staff to file the C10s as soon as possible so that the Unemployment Benefit (UEB) can be paid quickly. For the last year, NIB has stepped up its enforcement efforts to ensure that employers file their contribution statements and make their NIB payments. At this point, the most important issue is for NIB to have the C10 statements so that insurable wages can be calculated and credited to the employees’ accounts.

To date, NIB was able to quickly process over 12,000 Unemployment Benefit (UEB) applications related to COVID-19. However, there are another 2,000 claims in process which have been stalled because of the lack of C10 information. Without the C10 forms which contain the wage information, NIB cannot accurately determine a person’s insurable wage which is used to calculate the unemployment benefit. These claims may also be deemed ineligible by NIB’s claims system as the person may not have sufficient contributions to meet the requirements without the additional months of C10 data added.

NIB is urging all employers who are not up to date with their C10 statements to file them immediately using the MS Excel C10 spreadsheet found on NIB’s website (see Library Tab). This process allows the MS Excel C10s to be uploaded to NIB’s system quickly versus being manually keyed in when paper, handwritten or scanned C10 forms are submitted. Employers, who are able to do so, are encouraged to register with the Employer Self Service portal, via ESS@nib-bahamas.com. The ESS portal allows C10s forms to be automatically uploaded to the system and immediately credited to their employees’ accounts allowing for faster processing and payment of UEB claims.

NIB has implemented an innovative work around process for employers with 20 or more employees to pay UEB to their employees quickly. Employers interested in this solution should make contact with the Director at director@nib-bahamas.com or the Financial Controller at Sgill@nib-bahamas.com so that NIB can use this alternative process to pay UEB to affected employees.
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A “business person in Fox Hill” suggested in a letter to the Editor (What’s Going on at NIB? – Tribune 23/09), that with the recent move of Inspectors from the National Insurance Board’s Fox Hill Local Office to its Jumbey Village Local Office in the Clifford Darling Complex, the Board’s operations in Fox Hill will close down. According to Greg Collie, Senior Manager for Compliance with responsibility for the Inspectorate, nothing could be further from the truth. He said the Fox Hill Local Office is not closing down.
Response to Tribune article
4/9/2009 12:00:00 AM
Derek Osborne, Consultant Actuary at the National Insurance Board is advising the public that though the 8th Actuarial Review of the National Insurance Fund, which includes long-term projections of the Fund and recommendations aimed at enhancing the Fund’s long-term sustainability as well as its ongoing relevance, has been completed, it has not yet been tabled in Parliament as is required by law.
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.
NIB Compliance Press Release
3/11/2009 12:00:00 AM
As was reported in the local media recently, the National Insurance Board (NIB) is increasing its review of the contribution accounts of delinquent employers and self-employed persons in order to ensure compliance with the National Insurance Act (the Act).
The National Insurance Board
3/2/2009 12:00:00 AM
As of March 2, 2009, all claims submitted for short-term benefits by employed persons (i.e., persons who have bosses) must be accompanied by an Employers Certification form (Med 4). The new Med 4 form is a single- sheet addition to the Med 1, Med 1A and Med 2 forms. It requires the employer to certify that an employee is/was/will be off from work for the period stated.
Press Response on clear policy
2/2/2009 12:00:00 AM
The National Insurance Board’s (NIB) primary objective, as mandated in the National Insurance Act, continues to be providing income-replacement for workers when they are unable to work. To deliver on this income-replacement promise to workers of The Bahamas, NIB collects contributions from self-employed persons and from employers on behalf of employees.