News
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.
News
TCI DELEGATION ATTENDS LAUNCH OF THE CARIBBEAN ASSOCIATION OF PROBATION AND PAROLE (CAPP) IN BARBADOS
Providenciales, Turks and Caicos Islands – A delegation from the Department of Rehabilitation and Community Supervision (DRCS) traveled to Barbados to attend the launch of the Caribbean Association of Probation and Parole (CAPP). The event marked a significant step toward regional collaboration in probation and parole efforts, with participation from several Caribbean Islands. The delegation representing the Turks and Caicos Islands included: Mrs. Bridgette Newman (Permanent Secretary), Mr. Jaron Harvey (Director), and Ms. Drexanna Seymour (Probation and Parole Officer).
During the launch, a presentation on the progress of TCI’s rehabilitation and probation sectors was delivered, highlighting both existing and
upcoming innovative programs aimed at reducing reoffending and promoting behavioral change among clients. Director Harvey emphasized, “We are committed to creating a system that not only holds individuals accountable but also empowers them with the tools to transform their lives.” He added, “Collaborating with regional partners through CAPP enables us to build on these efforts by sharing our achievements and learning from one another. Our emphasis on rehabilitation, skill development, and behavioral change is already showing positive results, and we are excited for what lies ahead.”
PS Newman asserted “as a region, we face similar challenges, and this organisation allows us to pool our resources and knowledge to develop solutions that work for us. I am proud of the strides we have made in the Turks and Caicos Islands. Our partnership with CAPP will further enhance our efforts to reduce re-offending and empower those under our care to make meaningful changes in their lives.”
The launch of CAPP represents a milestone in strengthening collaboration and sharing best practices across the Caribbean to tackle issues related to probation, parole, and reintegration. The association aims to enhance regional cooperation, capacity-building, and policy development to address the needs of individuals within the justice system while promoting rehabilitation and reducing reoffending rates.
The delegation’s participation in this event underscores TCI’s commitment to leading by example in probation and parole services, while the collaborative efforts with CAPP promise a brighter future for rehabilitation and community supervision across the region.
News
Department of Housing and Community Renewal Provides Update on Home Improvement Projects Across Turks and Caicos Islands
Turks and Caicos, October 6, 2024 – The Department of Housing and Community Renewal (DHCR) is pleased to update the public on the progress of its Home Improvement Programme, part of the Turks and Caicos Islands Government’s ongoing commitment to enhancing living conditions for residents.
The programme has been rolled out across several islands, with numerous projects underway aimed at improving housing standards. The Deputy Premier and Minister of Physical Planning and Infrastructure Development, Hon. Jamell R. Robinson, commented on the initiative:
“This programme represents our government’s dedication to ensuring that every resident has access to safe and comfortable housing. We are proud of the progress made so far, and we remain focused on completing these projects in a timely manner, while ensuring quality and accountability.”
Island Progress Updates:
Grand Turk:
- A total of 11 projectswere approved in batch one of the programme.
- 6 contractshave been awarded, and work is actively progressing on 4 of these projects:
- One project is 60% complete.
- Another is 50% complete.
- One is at 30% completion.
- The fourth is 25% complete.
Providenciales:
- 6 projectswere approved in batch one.
- 3 contractshave been awarded, with the following progress:
- Two projects are 25% complete.
- The third project has reached 10% completion.
South Caicos and Salt Cay:
- 9 projectshave been approved for South Caicos, and 3 projectsfor Salt Cay.
- In both islands, 2 contractshave been awarded, with mobilisation of works expected to begin shortly.
North Caicos and Middle Caicos:
- The Department is currently awaiting bids from contractors under the Framework Agreement.
- Once received, the bids will be reviewed, and contracts will be awarded as part of the government’s commitment to ensure the housing needs of these islands are met.
Programme Overview and Commitment
The Home Improvement Programme is a key part of the government’s broader efforts to address housing needs across the Turks and Caicos Islands. By targeting homes in need of repair, the initiative aims to improve the living standards of many families. With projects already underway and more set to begin shortly, the DHCR remains committed to the successful and timely completion of all works.
The Department will continue to provide updates on the progress of these critical projects as they move forward.
For further inquiries, residents can contact the Department at 649-338-2220.
Providenciales, Turks and Caicos Islands – The long-awaited Turks and Caicos School Sports (TCISS) season kicked off on Saturday, September 28th, with the expectation of an electrifying resurgence of school spirit.
The first school sport on schedule is the Inter-High School Football season for Boys and Girls. Last year’s Boys’ champions were the A. Louise Garland Thomas High School and the Marjorie Basden High School were back-to-back champions for the Girls.
The opening weekend will take place at the TCIFA stadium on Venetian Road starting at 10:00 am but all following games in the season will take place at the National Stadium.
Chosen by the coaches in a lottery draw, here are the groups each team will be playing in:
Boys Group A
British West Indies Collegiate – BWIC
Wesley Methodist High School – WMHS Maranatha Academy – MA
Clement Howell High School – CHHS
TCIPS Comprehensive High – TCIPS
Boys Group B
Raymond Gardiner High School – RGHS
HJ Robinson High School – HJRHS
- Louise Garland Thomas High School – ALGTHS Marjorie Basden High School – MBHS
Elite High School – EHS
Girls Group A
Clement Howell High School – CHHS
Wesley Methodist High School – WMHS
Raymond Gardiner High School – RGHS
- Louise Garland Thomas High School – ALGTHS
Girls Group B
British West Indies Collegiate – BWIC
Clement Howell High School – CHHS
HJ Robinson High School – HJRHS
Marjorie Basden High School – MBHS
On the launch of TCISS 2024-25, Hon. Rachel Taylor shares, “As Minister with responsibilities for Sports, it gives me great pleasure to congratulate all schools for making the assertive effort to ensure that their students are actively engaged in sporting initiatives in partnership with the Sports Commission. Such partnerships aid in the effective delivery of the Physical Education Curriculum. The various sporting disciplines provide an opportunity to develop the soft skills of our students in areas such as leadership, team building, and resilience, and promote physical fitness. We wish our schools all the best as we launch our school sports season.”.
How to Watch Games: 
For this year’s game schedules visit the TCISS page: https://www.gov.tc/sports/our-events/tci-school-sports. Tickets will be sold at the stadium booth: Adults $5, and Children $3.
Visit this link to review last year’s season’s fixtures and standings: https://www.schoolssports.com/CompetitionMicrosite/Competitionintro.asp?TID=TCISS-Football&S=20232024.
Turks and Caicos Islands School Sports 2024-25 Schedule
- TCISS Inter-High School Football Boys, TCISS Inter-High School Football Girls – September 28, 2024 – October 26, 2024 (Providenciales)
- TCISS Inter-High School Basketball – November 2024 – February 2025 (All-Island)
- TCISS Inter-High School Softball – November 2024 – February 2025
- Track and Field Development Meets – February & March 2025
- TCISS Inter-High School Track and Field – March 2025 (Providenciales)
- TCISS Inter-Primary School Track and Field – April 2025 (Providenciales)
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