National
Residents React: NIB To Rise Every Two Years
NASSAU, BAHAMAS – People are sounding off about the upcoming National Insurance Board (NIB) rate increases after it was confirmed that the 1.5 percent rate increase coming next year will just be the first of many.
NASSAU, BAHAMAS – People are sounding off about the upcoming National Insurance Board (NIB) rate increases after it was confirmed that the 1.5 percent rate increase coming next year will just be the first of many.
Minister of State in the Office of the Prime Minister with responsibility for NIB, Myles Laroda, announced the upcoming increases to NIB rates.
The first increase of one and a half percent will take effect on July 1st of next year, and it’s said the incremental increases will continue every two years after that for the foreseeable future.
We polled our social media audience for their opinions on the increase, with an overwhelming majority being against the rate hike.
Eighty percent of voters said they disagreed that the rate for national insurance should increase every two years.
But in person, those we spoke to felt differently.
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