NIS Contributions Reach $44.8B In 2025

In the 2025 calendar year, the National Insurance Scheme (NIS) recorded contributions totalling $44.8 billion.

Minister of Labour and Social Security, Hon. Pearnel Charles Jr., made the disclosure during his 2026/27 Sectoral Debate presentation in the House of Representatives on Tuesday (May 19).

“In addition, the National Insurance Fund stands at $262.8 Billion in net assets at the end of March 2026. This fund is being properly managed by this Government, and it is being used for the benefit of our pensioners and to develop the country as best as possible,” he stated.

Meanwhile, Mr. Charles advised that the NIS will celebrate its 60th anniversary this year.

The NIS provides a vital safety net for thousands of retirees, as well as domestic workers, employees injured on the job, widows, widowers, and orphans.

Meanwhile, effective July 1, 2026, the national minimum wage for all workers, including private security guards, will increase from $16,000 to $17,000 for a standard 40-hour work week.

In respect of industrial security guards, all other existing allowances will remain unchanged.

“This represents the sixth increase since 2016 and reflects this Government’s commitment to protecting low-income workers and supporting household stability,” the Minister said.