Who We Are

The Turks and Caicos Islands National Insurance Board (NIB) is a statutory body of the TCI Government and the sole provider of social insurance benefits to persons gainfully employed in the Turks and Caicos Islands. We serve employees, self-employed persons, and voluntary contributors between the ages of 16 and 65, along with their dependents and survivors.

Since our establishment in 1992, the NIB has grown into one of the TCI’s most important institutions, safeguarding the financial wellbeing of our people through nine distinct benefit programmes that cover retirement, sickness, maternity, workplace injury, invalidity, death, funeral expenses, survivors’ support, and disablement.

We operate four offices across the islands, with our Head Office in Grand Turk and branch offices in Providenciales, South Caicos, and North Caicos, ensuring that every resident has access to the services and support they are entitled to.

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20k+ Active Contributors

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34+ years of experience

The National Insurance Board was established under the National Insurance Ordinance No. 10 of 1991 and came into effect on April 6, 1992.

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Our History

  • 1991 - 1992
  • 2006
  • 2018
  • 2022
  • 2024

Established Under Law

The National Insurance Board was established under the National Insurance Ordinance No. 10 of 1991 and came into effect on April 6, 1992. In the years before its founding, no formal social security mechanism existed to protect the working people of the Turks and Caicos Islands. The creation of the NIB marked a turning point, providing a structured system of contributions and benefits that would give workers and their families a safety net for the first time.

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Fund Reaches $100 Million

The National Insurance Fund reached the $100 million milestone during the 2006/07 fiscal year, reflecting the growing strength and reach of the programme. This achievement demonstrated the effectiveness of the NIB’s financial management and the increasing participation of the TCI workforce in the national insurance system.

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8th Actuarial Review Confirms Fund Strength

The 8th Actuarial Review, conducted by Trinity Consulting Ltd., confirmed that the National Insurance Fund remained strong and would continue to be viable for at least the next 30 years. At the time of the review, the Fund’s reserves stood at $252 million. The review also proposed recommendations for benefit and contribution adjustments to ensure continued sustainability.

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30 Years of Service

On April 6, 2022, the NIB celebrated its 30th Anniversary. Over three decades, the institution grew into one of the TCI’s premier success stories, built on predominantly local skills and knowledge supported by sound professional advice. By this point, the Fund’s asset base had surpassed $431 million with reserves exceeding $386 million, a testament to prudent leadership at Ministerial, Board, and Management levels.

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Contribution Rate Reforms

Following recommendations from the 9th and 10th Actuarial Reviews, updated contribution rates took effect on April 1, 2024. The new rates (12% for the private sector, 9.15% for public officers, and 10% for self-employed persons) reflect the Board’s commitment to ensuring the long-term viability of the Fund for current contributors and future generations.

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Vision & Mission

Vision: The National Insurance Board is committed to becoming the largest provider of Pensions, in the Turks & Caicos Islands providing social security and other Services to the people of the Islands.

Mission: To Be Fiscally Prudent in the Provision of Dependable, Transparent and Excellent Social Security Services to the Aged, Working Population and Dependants, of the Turks & Caicos Islands and its People

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Our Leadership Team

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Rhesa Cartwright-Rolle
Chief Executive Officer
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Diandra Mills
Deputy Director
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Esther-Ann Harvey
Financial Controller

$0+ M

Total Asset Base (as of 2021 audit)