NASSAU, BAHAMAS – Bahamas Public Services Union (BPSU) President Kimsley Ferguson raised concern Monday morning that the proposed 1.5 per cent increase in the National Insurance Board (NIB) contribution, which is set to take effect July 1st 2024, could impact his members specifically those on the lower end of the pay scale.
Ferguson added that the proposed NIB increase could also eradicate the recent incremental raise that BPSU workers recently received.
Minister with responsibility for NIB Alfred Sears announced in parliament that the increase, which takes effect this summer, will also be increased every two years, by 1.5%, over the next 20 years.
