National
Still No Word On NIB Fund
NASSAU, BAHAMAS – Nearly one year after an actuarial review called for immediate action and a rate increase for the National Insurance Board, State Minister responsible Myles Laroda says no decision has been made yet.
NASSAU, BAHAMAS – Nearly one year after an actuarial review called for immediate action and a rate increase for the National Insurance Board, State Minister responsible Myles Laroda says no decision has been made yet.
The review recommended an increase in rate contributions on July 1, 2022 followed by an increase every two years until 2026.
The review explained that if that does not happen, there is a risk of the fund depleting.
Speaking ahead of Tuesday’s cabinet meeting, Laroda says there’s no need for concern.
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