NIB unemployment pay-outs near $80 mil.

NIB unemployment pay-outs near $80 mil.
National Insurance Board headquarters

NASSAU, BAHAMAS — Minister with responsibility of the National Insurance Board (NIB) Brensil Rolle said yesterday it would be ‘no surprise’ if NIB pays out $100 million in unemployment benefits.

Rolle revealed $78 million has been paid out to-date, during a contribution in Parliament in support of a resolution for the conversion of $37 million in Bahamas Development Bank (BDB) bonds to a 20 year loan with NIB.

He noted that since March 23 this year, NIB has processed over 36,000 claims and has paid out over $78 million.

“Notwithstanding we have paid out over $78 million to the Bahamian population I understand there are some frustrations and some complaints,” Rolle said.

He said NIB is working to address the various issues such as persons not getting their claims processed or those who may have only gotten one or two unemployment benefit payments.

“Whatever our obligation is we will do our best to get the funds to you on a timely basis,” said Rolle.

“We started this process from March 23 and realized that we had many applications for assistance dated earlier. We did not anticipate the amount of layoffs that happened before March 23.”

“We rolled back the date to March 13. That means an additional 5,000 people will get assistance from National Insurance in this regard. These persons, once they are properly verified will receive their benefit in the shortest possible time,” said Rolle.

Rolle added: “We would not be surprised if we spend 100 million on this exercise. That is on the NIB side to the government side.”

He also urged to not abuse the unemployment claims process.

“Be honest when you return to work you are not out of work. You should be paid by the employer and not NIB,” said Rolle.

3 comments

Minister Brensil Rolle, every citizen of the Bahamas pays taxes and the majority of citizens vote. It is appalling how you declare your statements of how so many millions of dollars is being paid out. Unfortunately this money only goes to a certain populace of the Bahamas. We will show you at the polls come 2020 what a bold face liar you are. Each citizen of the Bahamas should receive assistance at this time. Social service is not even assisting with rental assistance. FNM please get it right!

I can not see how nib paid out all that money and half of Nassau was not qualified for the 13 weeks payments plus the ones who was qualified missed a whole month or so from getting anything so where did that monies went these ppl could lie boy !!

I want to know what is going on with the Extention for self employ person in the Tourism industry in GB we have applied for the extension on the portal but is telling most of the person they are not qualify and was told to email but still have not recieve any word back or response back we need to kno becuz we have bills that is still coming in and the Landlord are still not working with alot of persons

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