Contribution quarter Contribution week Waiting days Average insurable weekly earnings Period of confinement Pensionable age Contribution quarter A three-month period in which contributions are made on your behalf. There are four contribution quarters in a calendar year. They end on: o March 31 o June 30 o September 30 o December 31 Contribution week The period of seven days commencing from midnight between Sunday and Monday. Waiting days The first three days after a medical certificate is issued. Average insurable weekly earnings This is a term used when calculating Sickness Benefit. It is the sum of insurable earnings on which contributions are based over the contribution quarter but one before the quarter in which the first day of a continuous period of incapacity for work began. This total is then divided by the number of weeks in that quarter to get the average insurable weekly earnings. Period of confinement The period in which the claimant is incapable of work. Pensionable age This is the age at which you become eligible to receive an NIS pension. Right now the pensionable age is 66. After that it will increase by 6 months every 4 years until it reaches 67 on January 1, 2018 as the chart below indicates. Pensionable age - 65 ½ - Year it took effect - 2006 Pensionable age - 66 - Year it takes effect - 2010 Pensionable age - 66 ½ - Year it takes effect - 2014 Pensionable age - 67 - Year it takes effect - 2018 Back to top |
