NIS providing funds to Barbadians in time of Pandemic

NIS providing funds to Barbadians in time of Pandemic

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In times of difficulty when the COVID-19 pandemic has had an adverse effect on the economy still the National Insurance Scheme of Barbados continues to work tirelessly in delivering the benefits to Barbadians.

Minister of Labour & Social Partnership Relations Colin assured this while delivering the brief remarks at the NIS 54th anniversary that was held online on Sunday. Challenging from all the economic difficulties because of COVID-19, NIS is providing monetary support to citizens under their model framework. Jordan said this while addressing the meeting.

Jordan said that the National Insurance Scheme continues to provide coverage in times of illness, invalidity, maternity, disablement, old age, unemployment and allows other benefits such as funeral grants, death benefits, and survivor’s grants or pensions.

Jordan stated that as the Minister holding responsibility for social security, and having two weeks ago chaired a meeting of Caribbean labour ministers, where they have discussed the impact of the pandemic, he was delighted to be able to state that their National Insurance Scheme, NIS, is a model for other Caribbean territories, as it was one of the few those offers unemployment benefits.

In 2020 due to the raging number of unemployment due to the pandemic, the NIS paid $155.5 million to the Barbadian NIS also paid a 16million US dollar in the first quarter of 2021 to 20,260 Barbadians.

Jordan said that he appeals to employers to accept their responsibility toward their employees, continue to report their earnings and pay NIS contributions in a timely manner so that in the unfortunate event of redundancy, eligible persons have been able to provide for themselves their families, and other dependents.

Jordan also said that in support of ongoing discussions occurring at the 109th National Labour Conference in Geneva, Barbados is additionally within the beginning stages of getting Social Security to become a right for all Barbadians, rather than only being available to citizens who are conscious of the processes.