The National Insurance and Social Security Service (NISSS) advises that it will be administering the payment of pensions, previously paid by the Treasury Department to retired public sector workers with effect from January 2024. Payments will be issued monthly via cheque or direct deposit to bank and credit union accounts. Following are the dates for

INCREASE IN EARNINGS CEILING AND BENEFITS The National Insurance and Social Security Service (NISSS) would like to advise employers, employees and self-employed persons of the following increases to its Insurable Earnings Ceiling and Benefits. All changes took effect on 1st January 2024. Insurable Earnings Ceiling Effective, the maximum insurable earnings are: Monthly paid workers                                  $5,200               

The National Insurance Scheme (NIS) has secured the permission of the Central Bank of Barbados (CBB) to acquire US$40 million to invest in international markets on a phased basis. This will boost its portfolio diversification through access to international markets. The NIS currently holds 80% of its investments locally. This development implements an important recommendation

Ministerial Statement on the Revitalisation of the National Insurance Scheme by Hon. Colin E. Jordan, M.P., Minister of Labour, Social Security and the Third Sector in the Honourable House of Assembly on Friday, July 28, 2023

When submitting December earning schedules and payments, please change the year to 2022.

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The National Insurance Scheme is celebrating its emerald anniversary observed under the theme, It’s Your Future, Secure It! This year’s theme was chosen to highlight the importance of paying NIS contributions and it also appeals to self-employed persons to adopt a similar approach, so they can also secure their future. During the anniversary month of

Employers and self-employed persons are reminded that the deadline to liquidate contribution arrears to the National Insurance Fund is June 30, 2022. This allows for a 100% waiver of interest owed as at 15th March 2022 if outstanding contributions are liquidated within 24 months, until March 31, 2024.  Payments can be made in a lump