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               

It’s Easier for Self-employed Persons! More Flexibility! More Benefits! Registration Please note you are required to register with the NISSS as a self-employed person. Even if you have an employer, you can still register and pay additional contributions if your income is less than the current earnings ceiling of $1,201 per week or $5,200 per

BRIDGETOWN – IN a historic moment marked with joy, camaraderie and promises of support, the National Insurance Scheme underwent a significant transformation on December 1, 2023, officially becoming the National Insurance and Social Security Service. The change signifies the institution’s evolution into a fully-fledged commercial state-owned enterprise, heralding in a new chapter for both its

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.