Big Pickup for Salvation Army Thanks to Donation by FortisTCI
Providenciales, Turks and Caicos Islands (November, 11 2014 / Fortis TCI Press Release) – The Salvation Army recently received a helpful donation in the form of a pickup truck donated to them by FortisTCI. The truck, once a part of the FortisTCI fleet, will aid the Salvation Army in taking care of their day-to-day tasks which typically involves moving large amounts of donated goods.
FortisTCI Vice President of Transmission and Distribution Devon Cox and Vice President of Customer & Corporate Services Allan Robinson made the hand-off. Mr. Cox commented on the donation adding, “We enjoy giving back to the community and embrace the work of organizations such as the Salvation Army. We know that they will take this donation and do even more amazing work throughout the islands.”
The gold 2009 Ford F-150 was turned over in excellent used condition to Captain Derick Miller. He plans to use the truck for transporting goods, emergency items and food, as well as picking up donations and transporting Salvation Army workers and volunteers to various events. Speaking about the donation, Capt. Miller said, “It’s through donations like these that the Salvation Army can continue to do the work it does in aiding the community. We appreciate the assistance that FortisTCI has given us, and we’re glad to have their partnership in this regard.”
As a part of the Company’s mission, FortisTCI believes in being a good corporate citizen. FortisTCI, therefore, looks forward to making meaningful contributions that have a positive impact on the community.
Notes to Editors:
1) FortisTCI Limited (FTCI) became a wholly owned subsidiary of Fortis Inc. located in
Newfoundland, Canada in August 2006. Turks and Caicos Utility Limited (TCU), which is the
sole provider of electricity on the Islands of Grand Turk and Salt Cay, was acquired by FTCI in
August 2012. FTCI is the sole provider of electricity in Providenciales, North Caicos, Middle
Caicos, East Caicos and adjacent Cays, and South Caicos. Together the two companies serve
approximately 13,000 electricity customers in the Turks & Caicos Islands. The Utilities have an
aggregate diesel-fired generating capacity of approximately 75 megawatts. Additional
information on FortisTCI can be accessed at www.fortistci.com.
2) Fortis is the largest investor-owned distribution utility in Canada, with total assets
approaching $25 billion and fiscal 2013 revenue exceeding $4 billion. Its regulated utilities
account for approximately 93% of total assets and serve more than 3 million customers across
Canada and in the United States and the Caribbean. Fortis owns non-regulated hydroelectric
generation assets in Canada, Belize and Upstate New York. The Corporation’s non-utility
investment is comprised of hotels and commercial real estate in Canada. For more information,
visit www.fortisinc.com or www.sedar.com.
VP, Customer & Corporate Services
Three Days to NIB Rate Increase for 2023
By Dana Malcolm
#TurksandCaicos, March 29, 2023 – On April 1st, the second round of increases on contributions at the National Insurance Board will kick in for the Turks and Caicos workforce. Announced last year, the increases were instituted to keep the NIB from running out of money by 2027 as it services a population that is living longer with contributions that had not been increased in 30 years.
As the Government’s new financial year begins, increases at NIB will mean a higher cost for doing business and a higher cost for running the Government.
The private sector is expected to pay contributions at a rate of 11 percent on your taxable income. The hike is up from last year’s 10 per cent; six percent of which is to be paid by the Employer and five percent is to be paid by the Employee. For wages of $2000, this will mean a $200 improvement in income per month to the NIB. As for the burn on residents’ pockets, based on a minimum wage of $1200 monthly salary, that’s at least $60 dollars a month and $720 per year.
Public sector rates will move to 10.15 percent up from 9.15 per cent with the worker paying 4.575 per cent and the Government paying 5.575 per cent; that’s $54 a month and $648 a year at minimum wage.
The NIB rate as of April 1, 2023, will jump to 9 percent for self-employed individuals; For self-employed individuals at minimum wage, that is $108 dollars a month or $1296 per year.
As taxable incomes increase so will the contribution.
The increases follow a 2019 Actuarial review, undertaken every three years, which unearthed that the NIB was facing a dismal future, possible collapse. Contribution rates were growing at a rate much slower than NIB expenses, which included beneficiary payouts. On that trajectory, the NIB’s earnings would be eclipsed by its income by 2027, forcing the worker protection plan to draw down on money saved for economic shocks like Covid-19.
Unsurprisingly, this was deemed untenable, and an immediate increase was recommended.
Despite this scramble to boost earnings, the NIB has simultaneously increased payouts. Payouts for pensions, funeral grants, maternity grants and more will all attract bigger sums.
These incremental increases on contributions and payouts were all consultant recommendations, informed statements from the Board.
Work of NAECOB critical in ensuring high standards in education, says Minister Hanna-Martin
Bahamas Golden Jubilee Events Announced, Celebrations Across 33 Islands & Cays
#TheBahamas, March 27, 2023 – As the 50th anniversary of our nation’s independence approaches, Bahamians everywhere are teeming with excitement and expectancy around the year-long celebrations set by The National Independence Secretariat.
Yesterday, the Prime Minister joined H.E Leslia Miller Brice, Chair of The National Independence Secretariat to unveil the Calendar of Events for the 50th Independence celebrations.
The calendar comprises a host of events, initiatives and recommendations for celebrations throughout all 33 islands of The Bahamas.
At this jubilant occasion the PM stated, “Celebrating independence is about acknowledging the greatness around us, the greatness within us, and the greatness ahead of us.
We are Bahamians. That identity is special.”
View the newly released calendar of events here:
FIND US ON FACEBOOK
Caribbean News1 week ago
TCI Moving to Catch Up in Clean Energy Race, attends CDB Conference
Health1 week ago
ChikV is back! The Americas see sharp increase and nearly 100 deaths
Uncategorized4 days ago
Lifting of COVID Vaccine Mandate is ‘Game Changer’ for Tourism & Real Estate says Christie’s
Uncategorized1 week ago
Banks fail, causing ripple effects but what of the Turks & Caicos banking security
Uncategorized6 days ago
Uton Graham, Bars Manager at BTC masters his mix with training the next generation
Uncategorized6 days ago
United States Works to Combat Gun Trafficking in the Caribbean Region
Uncategorized6 days ago
BTC Celebrates International Women’s Day, Embrace Equity
Uncategorized4 days ago
JAMAICA: Tourism Ministry to Embark on Islandwide Consultations