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National Insurance Board Contribution and Benefit Regulations Legislative Amendments
#TurksandCaicos, April 4, 2022 – The main purpose of the Turks and Caicos Islands National Insurance Programme is to provide relevant social insurance protection through a wide range of benefits to the peoples of these islands, primarily our contributors and their dependents. To fulfil our mission, decision makers must seek to ensure the Fund remains viable into perpetuity.
Section 45(1) of the National Insurance Ordinance provides for the National Insurance Fund to be actuarially assessed every 3 years. As part of the review, the income and expenditure levels of the National Insurance Board are examined, including the current benefit and contribution rate structures; all towards safeguarding the future viability of the Fund.
Having conducted its 9th Actuarial Review in July 2019, among the main findings and recommendations, the Report observed that the Turks and Caicos Islands National Insurance Board’s current contribution rates have remained unchanged from inception in April 1992 (second lowest in the region). At the same time, there were numerous increases across all branches of benefits over the 3 decades.
- Contribution Rate Increase
The report indicated that based on the current design, structure, and parameters, the TCINIB is projected to be financially sustainable for the medium to long term and is forecast to have sufficient reserves to support the current estimated expenditure for another 27 years. Contribution Income is projected to cover all expenses until the year 2027, based on the current benefit provisions and current contribution rate of 8.0%.
After 2027, the NIS will have to use some of its investment income, in addition to its contribution income to cover the projected expenses. This will slow the rate of the growth of the reserves.
In order to protect its reserves, which are specifically set aside as a buffer to the system to provide for the continuous payment of future benefits during periods of economic downturn, the Actuary concluded and recommended that it is necessary to immediately increase the existing contribution rate structure.
Accordingly, all Employers, Employees and Self -Employed persons are hereby advised that Cabinet in accordance with the recommendations of the Actuary, has accepted and approved the implementation of incremental increases in the current contribution rates over the next three years with effect from April 1, 2022, as follows:
| April 1, 2022 | April 1, 2023 | April 1, 2024 | |
| Private Sector
Employer/ Employee: |
10% | 11% | 12% |
| 5.5% / 4.5% | 6% / 5% | 6.5%/ 5.5% | |
| Public Sector | 9.15% | 10.15% | 11.15% |
| Employer/Employee: | 5.075%/4.075% | 5.575%/4.575% | 6.075% /5.075% |
| Self-Employed | 8% | 9% | 10% |
While these are challenging times economically, the difficult decision was made to increase rates as recommended by the Actuary, to safeguard the Fund in the best interest of the people who have come to rely on the safety net it provides.
It is projected that NIS costs will escalate, primarily due to the Long-Term Benefits (LTBs) Branch. This is the branch from which Funeral Grants, Retirement, Invalidity, Survivors,’ and Non-Contributory Old Age Pensions are paid. That branch currently accounts for 78% of all costs and is projected to increase to 93% of all costs. As the NIS matures, more persons will be covered and will accumulate a greater number of contribution weeks, which enables them to qualify for a pension instead of a grant and to qualify for a greater average benefit amount. The rate increase will allow for the allocation of additional funds to the long-term branch of the Fund.
The decision to increase the rate at this time is a thoroughly considered decision. It was not taken lightly. If the NIB is to continue to provide benefits that are relevant, the Fund must remain strong. The fund can only remain strong with the right level of inflows to cover the expenses of the Fund.
Management continues to closely monitor and contain cost. Also, contribution collection compliance is always a key aspect of the operations, as we strive to collect all the funds due to the NIB. Thirty years later, the two alone are no longer sufficient to sustain the Fund. For the first time, the contribution rate must be increased to secure the longevity of the Fund.
Again, the new contribution rates are effective April 1, 2022, and will increase a further 1% over the next two years. There has been no change to the maximum ceiling of $4,000 per month.
Further, there are changes to the following National Insurance (Benefits) Regulations:
- Retirement Pension after age 65
In many social security circles, it is becoming more prevalent to increase the normal retirement age considering the increase in life expectancy. The National Insurance Board is not increasing its retirement age but is offering an incentive to insured persons who choose to delay accessing their pension after age 65.
Accordingly, effective April 1, 2022, an insured person who retires from insurable employment after the age of sixty-five, and who was not in receipt of a Retirement Pension prior to the age of sixty-five, shall be entitled to an increase in their Retirement Pension a half percent (½%) per month for every month, up to a maximum of 30% that their pension is delayed, commencing from the date of their retirement.
- Retirement Benefit Accrual Rate
The new accrual rate for the Retirement Pension benefit will be amended as follows for persons ages 49 years and under on April 1, 2022:
Twenty percent of the average weekly insurable earnings will be payable to an insured person who has paid or to whom has been credited not less than five hundred contributions.
This will be supplemented by a further 2% of the average weekly insurable earnings for each unit of fifty paid or credited contributions in excess of the first five hundred, up to a total of one thousand such contributions; or contribution years 11 to 20.
An additional 1% of the average weekly insurable earnings for each unit of fifty paid or credited contributions exceeding one thousand will be paid up to a maximum of 60%.
The qualifying conditions for the Retirement Pension for persons ages 50 years or more on the date the amendment is adopted will remain unchanged and they will receive a pension based on the current benefit formula.
- Amendment to Invalidity Pension
The minimum contribution weeks to qualify for an Invalidity Pension will increase from 150 to 300 contributions, effective April 1, 2022.
- Increase in Non-Contributory Old Age Pension (NCOAP) Age
The pensionable age for the NCOAP benefit will increase from sixty-eight to seventy, effective April 1, 2022.
Please feel free to contact us at 946-1048 (Grand Turk) or 941-5806 (Providenciales) for further details. You are also invited to visit our website at www.tcinib.tc or our Facebook page to see detailed information on the recent legislative changes.
Providenciales, Turks and Caicos Islands (March 5, 2026) – As the Turks and Caicos sporting community celebrates the spirit of
youth athleticism, leading telecoms provider, Flow is highlighting the transformative power of connectivity following the successful conclusion of the 2026 Inter-High Track and Field Championships held at the Turks and Caicos Islands National Stadium from February 26 to 28.
As the Official Media Sponsor for the event, Flow provided livestreaming services that premiered across social media and on Flow TV’s Channel 111. This ensured that families and fans throughout the Turks and Caicos Islands could witness every record-breaking moment. To keep the event running at top speed, Flow also provided broadband services throughout the venue, maintaining seamless connectivity throughout the games.
“Our long-standing partnership with the Turks and Caicos Islands Sports Commission is a shared promise to invest in the next generation. Over the years we have worked together to create opportunities for young people to train, compete and grow,” said Joanne Missick, Country
Manager, Flow Turks and Caicos Islands.
“We make this investment because sport develops more than athletes. It’s a long-term investment for us in our people, pride and possibility, and it’s a partnership we hold close because advancing our youth advances the entire nation.”
The commitment to the Games extended directly to the track, where Flow served as the headline sponsor for the 200-meter category. Spanning seven races, the partnership culminated during the official medal ceremony with the company presenting winners with Flow merchandise bags.
Off the track, Flow mobilised engagement through the interactive sales booth. The site became a hub for activity, featuring Spin the Wheel promotions and gift certificate giveaways during Q&A intermissions, ensuring the energy of the crowd remained high.
Looking ahead, Flow is preparing to carry this momentum into the upcoming Inter-Primary Track and Field Championships, continuing its investment in the next generation of sporting talent in the Turks and Caicos Islands.
Providenciales, Turks and Caicos Islands – Commissioner of Police Fitz Bailey has been recognised for his contribution to national security and the tourism industry, receiving the Distinguished Civic Service Award at the Turks and Caicos Hotel and Tourism Association’s Star Awards held on February 19, 2026 at Beaches Turks and Caicos.
The annual awards ceremony is the premier recognition event for the territory’s hospitality sector, bringing together industry leaders,
executives and frontline professionals to celebrate excellence and the individuals whose work strengthens the destination’s global reputation.
Commissioner Bailey was honoured for his strategic leadership in the fight against crime and the measurable reductions in major offences, efforts widely credited with improving public confidence and reinforcing the Turks and Caicos Islands’ standing as a safe and competitive tourism jurisdiction.
In accepting the award, the Commissioner dedicated the recognition to the officers and staff of the Royal Turks and Caicos Islands Police Force, praising their commitment and professionalism in what he described as a collective national effort to make the islands more secure.
The TCHTA Star Awards spotlight the link between public safety and tourism performance, acknowledging that a stable and safe environment is essential to visitor confidence, investment and the continued growth of the sector.
This year’s ceremony featured high-energy hosting by Super P the Entertainer, with Omega serving as awards announcer, as the industry gathered to honour the people and partnerships that continue to elevate the Turks and Caicos brand.
(Providenciales – Monday, March 2, 2026) TCI Hospital proudly announces the successful achievement of its Heart Strong TCI initiative, a comprehensive Heart Month campaign focused on raising awareness and strengthening cardiovascular disease prevention efforts across the Turks and Caicos Islands.
Heart disease remains the leading cause of death in the Turks and Caicos Islands, highlighting the critical need for sustained public education, risk-factor reduction, and early intervention. The Heart Strong TCI initiative was designed to actively engage the community through education, outreach, and physical activity.
Key Activities Included:
Educational Training Sessions
Healthcare professionals conducted structured sessions addressing hypertension, diabetes, cholesterol management, nutrition, exercise, smoking cessation, and the early warning signs of heart disease.
House Call Talk Show Feature
A dedicated Heart Month episode of the hospital’s House Call program provided expert discussion on cardiovascular risk factors and prevention strategies, empowering viewers with practical, evidence-based guidance.
Red Fridays Awareness Campaign
Throughout the month, staff wore red every Friday to increase visibility around heart disease awareness and reinforce the campaign’s message within the community.
Heart Strong 5K Walk/Run
In collaboration with the Rotary Club, TCI Hospital hosted a community-wide 5K walk/run to promote physical activity as a cornerstone of
heart health. The walk/run also provided an opportunity for community screening.
Digital Health Education Campaign
To expand its reach, TCI Hospital also shared ongoing heart health education tips and prevention messages across its social media platforms, including Facebook, LinkedIn, and Instagram. These posts provided actionable guidance on diet, exercise, blood pressure control, and lifestyle modification, and encouraging community members to learn CPR.
Heart Strong TCI: A Continuous Commitment
While Heart Month has officially ended, Heart Strong TCI represents an ongoing institutional commitment to cardiovascular disease prevention and awareness. TCI Hospital will continue to prioritize:
- Community-based education initiatives
- Preventative screening and early detection programs
- Lifestyle and wellness promotion
- Strategic partnerships that advance public health outcomes
“Heart Strong TCI is not limited to a single month,” CEO, Dr. Denise Braithwaite-Tennant. “Cardiovascular disease prevention requires sustained effort. We remain committed to promoting healthy hearts across the Turks and Caicos Islands year-round.”
For more information about cardiovascular health services or upcoming screening initiatives, please contact TCI Hospital at 649-941-2800 in Providenciales, 649-941-2900 in Grand Turk or email us at info@interhealthcanada.tc
About TCI Hospital
TCI Hospital is dedicated to delivering high-quality healthcare services to the people of the Turks and Caicos Islands, with a strong emphasis on prevention, education, and community wellness.
