25 Things you should know about the N.I.S

1. The National Provident Fund (NPF) was the precursor to the National Insurance Services (NIS)

2. The NIS is a statutory corporation that is governed by a 9-member board.

3. The NIS is a full-fledged social security institution.

4. The Honourable Camillo M. Gonsalves, is the Minister with the responsibility for social security.

5. The current Chairman of the NIS Board is Mr. Lennox Bowman and the Director of the NIS is Mr. Stewart Haynes.

6. Every new employer is required to register with the NIS within 7 days of employing the first employee.

7. In the case of companies, employers should submit the memorandum of incorporation and articles of association.

8. Currently, the total rate of NIS contributions is 10% (employee – 4.5% employer- 5.5%).

9. The NIS contributions are due at the end of the current month.

10. Late payments attract a 10% surcharge (first month late) and a 1% compound interest for every month thereafter.

11. It is illegal for an employer to recover the employer’s part of the NIS contribution from the employee.

12. NIS contribution is not payable for any full week during which an employee is receiving sickness or maternity benefit from the NIS. The employee receives a contribution credit from the NIS for that particular week.

13. Employers can submit contributions electronically using eSubmit.

14. All applications for registration as an employee must be accompanied by either a birth certificate, passport, national identification card and marriage certificate (if applicable).

15. The benefits available to employees include: Sickness, Maternity, Age, Invalidity, Funeral, Survivors’ and Employment Injury.

16. Self-employed persons are entitled to all the benefits except Employment Injury.

17. Voluntary Contributors are entitled to Age, Survivors’ Pension and Funeral Grant.

18. Overseas nationals can become members of the NIS through the Voluntary Contributors’ Programme.

19. A claim for sick leave or employment injury must be submitted to the NIS within 15 and 10 days respectively from the date the person visited the doctor.

20. A claim for maternity benefit should be submitted 6 weeks before the birth of the baby or 6 weeks after the birth of the baby.

21. A claim for funeral grant must be submitted within 6 months of the death of the deceased insured person. In exceptional circumstances, one year is acceptable.

22. A claim for funeral grant must be accompanied with the death certificate and a receipt from the funeral home.

23. A funeral grant is paid on the death of:

• an insured person or his/her spouse
• invalidity pensioner or his/her spouse
• age pensioner or his/her spouse
• a non-contributory pensioner or his/her spouse
• dependent child under age 18
• dependent child under age 21 if attending school
• an invalid dependent child

24. The current NIS pensionable age is 62.

25. All age, survivors’ and invalidity pensioners are required to submit the NIS Life Certificate twice per year (January and July).