National

Residents React: Saving NIB, But At Our Expense

NASSAU, BAHAMAS – NIB Minister Alfred Sears announced Thursday that Bahamians can expect a 1.5% percent increase to their NIB contributions.

Published

1 year ago

March 8, 2024

Delvardo Emmanuel

NASSAU, BAHAMAS – National Insurance Board Minister Alfred Sears announced Thursday that Bahamians can expect a 1.5% percent increase to their NIB contributions this July and then every two years after that.

The contributions will continue to increase by 1.5% – up until 2044; that works out to a 15% increase over 20 years.

Just hours after that announcement, the Office of the Prime Minister released a statement reneging that contributions will increase every two years until 2044.

Friday, Prime Minister Philip Davis said it has always been his position to lessen the burden of the people.

We took to the streets to get the public’s reaction to the news.

These residents not holding back about how they feel; they say they are not in agreement.

However, these individuals support the decision, calling it is necessary.

Meanwhile, we spoke to this resident who had an entirely different perspective.