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NIS pensioners get 6% increase, self-employed ceiling raised
The National Insurance Scheme (NIS) has announced a six per cent increase for pensioners effective January 1, 2010.
According to a notice in the Kaieteur News edition of January 1, 2010, the minimum rate for Old Age pensioners will now be $15,813, up from $14,207.
The Insurable Earnings Ceiling, which is the upper limit on earnings that attract NIS contributions, will be increased from $113,660 to $126,504 monthly or from $26,229 to $29,193 from January 1, 2010.
With regards to self-employed persons contributing to NIS, the Minimum Insurable Earnings Ceiling will also be increased from $35,000 per month to $39,500 also effective January 1, 2010.
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