NIS IN GOOD STANDING- PM GONSALVES
Prime Minister Dr Ralph Gonsalves said the National Insurance Services (NIS), has recorded an increase in active contributors over last year’s figures.
Speaking on radio on Wednesday, the Prime Minister said that reform measures being implemented has ensured that the nation’s social security agency is in strong standing.
Dr. Gonsalves said the number of active Insured persons currently stand at 48, 528, the number of self employed contributors is 1, 356 and the number of active voluntary contributors is 247, giving a total of 50, 131 contributors.
“The NIS is doing better this quarter compared to last year’s quarter, partly because of the uptick in the economy and partly because of some reform measures we have put in place and internal efficiency at the NIS,” Dr. Gonsalves advised.
In the first quarter of 2024, active contributors stood at 46,856. Dr. Gonsalves also noted that the report suggests that there are more people employed than the active contributors, about 80 per cent of the people pay NIS.
“A number of farm workers don’t pay, farmers, domestic workers, some casual workers in construction, some minibus operators,…some Fisherfolk…so if you take that broadly to be constant,…it is not compulsory for the self employed,” the Prime Minister explained.
Between 2000 and 2019, there was a 41 per cent increase in NIS contributors.
