February 15, 2023
MYLES LaRoda, minister of state with responsibility for the National Insurance Board.
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NIB deficit ‘cut by 61%’ after rate hike
THE National Insurance Board took 300 people to court for failing to pay NIB contributions last year –– a 12 per cent increase over 2022 –– and expects its deficit to drop by 61 per cent once contribution rates increase in July.
NIB staring at $95m loss as pension deficit builds
A Cabinet minister yesterday warned the National Insurance Board (NIB) will lose $95m this year unless contribution rates are raised with the pensions branch alone incurring a monthly $4m deficit.
NIB fund on course to lose $95m this year
MYLES LaRoda, minister of state with responsibility for the National Insurance Board (NIB), warned that if there is no raise in the contribution rate this year the National Insurance fund will lose $95m.
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