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PUBLIC NOTICE- Amendments to the various National Insurance Regulations

  logo PUBLIC NOTICE- Amendments to the various National Insurance Regulations

PUBLIC NOTICE 

 

The National Insurance Board would like to advise the public that the recent amendments to the various National Insurance Regulations published in the Gazette, Vol172 No6 January 15, 2021, are related specifically, to the permanent Unemployment Benefit that is intended to come into force on 1 April 2022. 

 

The date of commencement of these regulations of January 18, 2021 as stated in the gazette is therefore an error. The contribution rate increase of 1% cited in the National Insurance (Contribution) (Amendment) Regulations is being introduced in order to fund this particular unemployment benefit and in order to make the benefit sustainable, as recommended by the National Insurance Board’s Actuary. Regarding the date published for effect of this amendment, please be aware that the Ministry of Finance has notified the Board of its intent to correct the commencement date by amending the legislation and republish to reflect the originally intended date of 1 April 2022. 

End. 

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