February 26, 2021
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Gov’t agencies ‘defaulted’ on multi-million NIB debts
The National Insurance Board (NIB) has had to contend with two government agencies defaulting on multi-million dollar debts owed to it with one still delinquent at year-end 2022.
NIB unemployment payouts up by 25%
THE National Insurance Board paid roughly $940,000 in unemployment benefits last month, a 25 percent increase compared to its average payouts due to higher contribution rates and seasonal hotel closures.
NIB’s $240m loss at COVID’s peak
COVID-19 has left the National Insurance Board (NIB) facing an “uphill lift” to recovery after plunging the nation’s social security system into a $240m loss at the pandemic’s peak.
NIB chair: We’ll recover $10.8m
The National Insurance Board’s (NIB) chairman yesterday reassured social security beneficiaries it will recover the $10.8m Ministry of Housing loan that was the subject of a scathing auditor’s report.
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