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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.
By Deandrea Hamilton
The Cassandra I remember never backed down from a fight.
She had an effervescent personality and was fiercely committed to her family—and that included her church and her friends. She deeply
appreciated the people God had given her, drawing on their love and support to push through circumstances no child, no teenager, should have to face.
Today, voters in a country far from where she grew up have trusted her to champion more accessible communities and better responses to people facing mental health and developmental challenges.
It speaks volumes about what happens when we believe in our children. When we refuse to set limits on who they can become, regardless of how they started. When we recognize God’s hand on their lives and support their ability to contribute and make an impact, wherever He places them.
Cassandra Toussaint is now councilwoman-elect for Ward 1 in Avon, Indiana, after defeating Republican Doug Elmore in the November 3 election. She ran as a Democrat. (youarecurrent.com)
Of Haitian heritage, she grew up in Turks and Caicos, attending Oseta Jolly, briefly Maranatha, and then TCIPS.
Her connections remain strong: friends, family and Lady Turks Gift Shop, a boutique venture she created with her best friend, Novie, from an idea they shared as teenagers.
Her family includes her father, Eliezer Toussaint, and her brother, Stoycov Toussaint, who graduated from Indiana University. Stephane Ambroise is playing basketball in Canada. Her mother, Ertha Etienne, died when Cassandra and her siblings were children.
In Turks and Caicos, her cousins Brenda, Steven, Lendcy and Sarah Cenary are, she says, successful and passionate about helping young
people and giving back to their community. Their mother, her aunt Rose Philomene Cenary, has worked in the Islands’ hotel industry for years and holds a special place in Cassandra’s heart.
“My aunt is the glue of my family,” Cassandra said, describing her love for the family and how she has always done her best to support them all.
A registered behavior technician, Toussaint says her childhood experiences inspired her to advocate for children who feel misunderstood.
Her campaign priorities included improved roads, accessible parks and facilities, and police training to better recognize and respond to autism and intellectual disabilities.
With limited money and little preparation time, she took her campaign directly to residents, knocking on doors and connecting at community events.
“Every resident deserves to be met with understanding,” she wrote.
The young woman I remember is preparing to bring that conviction into public office.
Providenciales, Turks and Caicos Islands (November 6th, 2026) – The Turks and Caicos Islands welcomes Porter Airlines as it begins its service to the destination with its inaugural Toronto (YYZ) to Providenciales (PLS) route on Friday, November 6th. The airline will service the route five times weekly from the Toronto Pearson International Airport.
On December 17th, Porter will launch its Ottawa to PLS flight, a new route for the Turks and Caicos Islands. That route will be serviced twice weekly from Ottawa International Airport (YOW).
Minister of Tourism, Hon. Zhavargo Jolly said the expansion of air service from Canada reflects the growing strength of that market to the Turks and Caicos Islands.
“Canada is showing strong and growing interest in the Turks and Caicos Islands, and we are pleased to see that reflected in the expansion of air service from the market. Porter Airlines’ new nonstop flights from Toronto and Ottawa strengthen our connectivity with Canada and give travellers more convenient options for reaching our islands. Canadians have always shown a genuine appreciation for the culture, heritage, natural beauty and, of course, the people of the Turks and Caicos Islands. Perhaps it is that shared warmth and friendliness that keeps bringing them back, and our partnership with Porter will simply make it easier for Canadians to continue showing their love for our Beautiful by Nature islands. Toronto builds on an important existing market for us, while Ottawa opens an entirely new gateway to the Turks and Caicos Islands. This increased access will make it easier for more Canadians to discover and enjoy our destination, while supporting the continued growth of this important market.”
Hon. Arlington Musgrove, minister responsible for aviation, Turks and Caicos commended his team at the Turks and Caicos Islands Airports Authority (TCIAA) for developing this relationship with Porter.
“The launch of Porter Airlines’ new services from Toronto and Ottawa to the Turks and Caicos Islands is another important milestone in strengthening our connectivity with the Canadian market. Canada remains an important source market for our tourism industry, and these new routes will give Canadians more choice and easier access to the warmth, beauty, and hospitality of the Turks and Caicos Islands. I
commend the Turks and Caicos Islands Airports Authority for leading this initiative and for its continued efforts to develop air service and build strong relationships with our airline partners. I also extend our sincere appreciation to Porter Airlines for its confidence in the Turks and Caicos Islands and for choosing our destination as part of its growing network of sun destinations. We warmly welcome Porter, its passengers and crew to our shores and look forward to a successful and lasting partnership,” he said.
To celebrate and promote the new flights, Experience Turks and Caicos hosted a reception in Ottawa for travel advisors and media. Organised by VoX International, our marketing agency in Canada, the event featured remarks by Market Intelligence Manager, Sharissa Lightbourne and Chairman of the TCIAA, Dwayne Gardiner. Nikeva Ariza, Director of Corporate Affairs, Communications and Public Engagement was also in attendance.
The new flights are operated by Porter’s 132-seat Embraer E195-E2. The aircraft features a two-by-two seating configuration, meaning no middle seats for any passenger. Porter’s elevated onboard experience includes complimentary beer and wine served in glassware, premium Canadian snacks, and free, fast WiFi for every passenger.
To book your flight, visit www.flyporter.com.
Providenciales, Turks and Caicos Islands (November 4th, 2026) – The Turks and Caicos Islands recorded its highest number of stayover arrivals for the third quarter of the year, with approximately 130,000 visitors welcomed between July and September, representing a three percent increase over the same period in 2025.
Preliminary figures from Experience Turks and Caicos show that the destination recorded 514,670 stayover arrivals for the first nine months of 2026, an increase of 25,048 visitors, or five percent, compared with the same period last year. Growth was recorded in every month from January through September, underscoring the destination’s continued appeal among travellers and the sustained demand for its tourism product.
Stay Over Arrivals by Quarter (2025/2026)
September closed the quarter on a positive note, with 20,204 stayover arrivals, seven percent more than the 18,795 recorded in September 2025. The year-to-date total of 514,670 is the highest number of stayover arrivals ever recorded for the January-to-September period.
Commenting on the record stayover arrivals, Minister of Tourism, Hon. Zhavargo Jolly said: “These record arrivals are an encouraging achievement for the Turks and Caicos Islands and a reflection of the continued confidence visitors have in our destination. However, I’ve always maintained that the true measure of tourism’s success cannot simply be the number of visitors arriving on our shores. It must also be measured by the opportunities we create for our people.”
“Our vision is to build a stronger, higher-value tourism industry where Turks and Caicos Islanders are not simply employees, but entrepreneurs, business owners and active participants in the economic opportunities tourism creates. This is why our recent Community Connect meetings across the sister islands were so important. We want to engage directly with our communities, understand their challenges and ensure that as our tourism industry grows, the opportunities for our people grow alongside it. Ultimately, tourism must do more than bring people to our shores. It must improve the lives of the people who call these islands home.”
Cruise arrivals reflect return to regular itineraries
Cruise passenger arrivals at the Grand Turk Cruise Port followed a different trend during the first nine months of 2026, with figures reflecting a return to more typical cruise itineraries following an unusually strong period in 2025.
Last year, cruise lines added Grand Turk to their itineraries, resulting in exceptionally high passenger volumes and cruise calls. With itineraries returning to more regular patterns this year, cruise passenger arrivals declined year over year throughout the first nine months.
The destination received 62,095 cruise passengers in September, a 22 percent decrease from the 79,341 recorded in September 2025. From January through September, total cruise passenger arrivals stood at 838,533, compared with 1,016,532 during the same period last year, representing an 18 percent decline.
Cruise Arrivals by Quarter (2025/2026)
While the cruise figures reflect a normalisation from last year’s elevated numbers, the continued growth in stayover arrivals provides a positive indicator of the destination’s performance in its overnight visitor market.
It is projected that the month-on-month increases in stayover arrivals will continue into the upcoming winter season, especially with the additional airlift expected from new and existing gateways in Canada and the US.
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