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  • Writer's pictureNIB Rate Increase

Roughly 300 Employers And Self Employed Individuals Facing Charges

April 26th, 2024

Officials of the National Insurance Board (NIB) led by Acting Director Heather Maynard appeared at a press briefing at the Office of the Prime Minister on Thursday where they revealed that approximately 300 employers and self employed people a facing charges associated with non payment of NIB contributions.

Maynard told reporters, “everyday NIB is taking employers to court. We prosecute in all of the Family Islands. We’re always prosecuting individuals.”

According to the Acting Director when individuals are placed before the courts the usually pay their arrears. “There are several offences. The main offence obviously is failure to pay. There is also an offence called failure to produce records and usually when the persons are summoned with a summons to appear to court they pay their obligation.”

Maynard also addressed the 1.5% contribution rate increase scheduled to come into effect on July 1st. She said, “report findings have indicated that changes demographics such as an aging population and a declining birthrate are having an adverse impact accelerating the widening gap between benefit payments and contributions collections.”

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