NIB (Bahamas), in plain English.

What the National Insurance Board is.

The National Insurance Board (NIB) administers social security in the Bahamas under the National Insurance Act. Contributions fund sickness, maternity, retirement, invalidity, survivor, and industrial injury benefits. Every employer operating in the Bahamas must register with NIB, register each employee, and deduct and remit contributions on every pay period. NIB is the Bahamian equivalent of NIS in Jamaica and Trinidad, or CPP and EI in Canada.

NIB contribution rates for 2026.

Employed persons contribute a combined 11.3 percent of insurable wages. The employer pays 6.65 percent and the employee pays 4.65 percent. The rate applies only up to the insurable wage ceiling, which is B$810 per week in 2026 and rises to B$830 per week effective July 1, 2026. Wages above the ceiling are not assessed. Self-employed persons contribute at a different combined rate on their declared earnings.

A worked NIB calculation.

NIB is assessed on insurable wages up to the weekly ceiling, so the contribution caps once an employee earns past it. Take an employee earning B$1,000 in a week, above the B$810 ceiling:

• Assessable wage: B$810 (the ceiling, not the full B$1,000).
• Employee contribution: 4.65 percent of B$810, which is B$37.67.
• Employer contribution: 6.65 percent of B$810, which is B$53.87.
• Combined weekly contribution: B$91.53.

An employee earning below the ceiling is assessed on their actual wage. The same logic runs every pay period, and the monthly C10 aggregates the periods in the contribution month.

How NIB is filed: the C10 and C13.

Employers remit NIB monthly using the C10 contribution schedule, due by the 15th of the month following the contribution period. The C10 lists each employee, their insurable wage, and the employee and employer portions. An annual reconciliation is filed on the C13. Late remittance attracts a surcharge from NIB, so the filing date is a hard deadline, not a target.

The NIB mistakes that show up in audits.

• Assessing the rate on gross wages above the weekly ceiling instead of capping at the insurable maximum.
• Missing the July 1, 2026 ceiling increase from B$810 to B$830 and under-contributing for higher earners from that pay period forward.
• Maintaining the rate and ceiling in a spreadsheet that drifts out of date within a quarter, breaking the C10 audit trail.
• Failing to register a new hire with NIB inside the required window, which surfaces on the annual C13 reconciliation.

How Workzoom runs NIB.

Workzoom calculates NIB on every pay run against the current insurable wage ceiling, applies the July 1, 2026 ceiling change automatically, and generates the C10 contribution schedule for the employer to submit and remit to the National Insurance Board. Because NIB sits on the same single employee record as HR, time, and the rest of payroll, the C10 reconciles to the pay register with no export step. Cable Bahamas, an 850 employee Workzoom customer, runs Bahamian payroll on the platform.