The National Insurance Services (NIS), the sole provider of sustainable social security in Saint Vincent and the Grenadines, was established on January 5, 1987. The core mandate of the NIS is to provide sustainable social protection to workers and their dependents through an income protection arrangement.
This is demonstrated through the provision of benefits such as sickness, maternity, invalidity, employment injury, funeral and survivors. These benefits are financed mainly through contributions paid by members.
The Institution provides coverage to the following groups of persons within the age group 16 to National Pensionable Age (NPA) years:
Employees
Self-employed Contributors
Voluntary Contributors (local and abroad)
Under the NIS Act, all workers in St. Vincent and the Grenadines are mandated to make contributions to the NIS. Currently, the total rate of contribution is 10% of insurable earnings. Of this total rate, the employee is required to pay 4.5% and this is matched by 5.5% by the employer. The contribution rate for a self-employed contributor and a voluntary contributor is 9.5% and 8.84% respectively.
Our secondary mandate refers to our contribution to the economic development. One of the avenues pursued is via the student loan programme. The institution stays true to its mission in promoting sustainable social and economic development in St. Vincent and the Grenadines through various initiatives including the operation of two Golden Years Activity Centres for senior citizens at Cane Grove and Black Point. These facilities cater for the aged where they can meet on a daily basis for socialization whilst enjoying a range of activities available to them.
Serving because we care!
