National

NIB Minister Defends NIB Salaries

NASSAU, BAHAMAS – The minister with responsibility for the National Insurance Board is setting the record straight, after a recent Inter-American Development Report revealed NIB employees are receiving generous salaries.

Published

3 years ago

February 7, 2023

Jameelha Missick

A recent IDB analysis of government spending revealing that NIB employees take home an average $64,000 income.

State Minister in the Office of the Prime Minister, with responsibility for the National Insurance Board, Myles Laroda seeking to clarify how those paychecks are distributed.

The report, which appeared in Friday’s edition of Tribune Business, suggested that previous generous industrial agreements have been a key factor in inflating both NIB’s wage structure, and administrative costs.

Laroda says those salaries are warranted, due to NIB’s presence on several islands.

Meanwhile, comments on Our News social media pages are showing mixed reactions, with one commenter saying, “these salaries are actually pretty good, most private companies also pay their directors $80,000+…”

Another said, “The report stated how badly NIB is run/maintained and there needs to be a better way to manage the resources…” And another “no issues here just wondering why NIB is so inefficient…”