NIB reports on increases for Contributors

Providenciales, 01 Apr 2015 – While higher wage earners nationwide brace for the fact that more money will be taken out of their salaries to pay National Insurance Board costs after the announcement that the wage ceiling has been raised; the NIB is rolling out a list of payout increases which are set to take effect on April 15th for its contributors. Retirement Pension and Invalidity Pension minimums are now increased by $35 to $370 per month; Funeral Grant is increased by $190; so contributors get $2,190. Maternity Grant is up $50, to $550 per child and there will be a $20 per month increase to widows and widowers. There is also an increase for payments to children, at $10 more per month. Walter Gardiner of the NIB says now deceased children, for example as dependents of contributors will get $1,420 and not $1,300 for funeral grants.

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