The National Insurance Services is reminding the Vincentian public that Employee Contribution Rate will increase again this year, by 1 per cent.
Communications Manager at the National Insurance Services Aviar Charles tells NBC News that the rate increase is part of the NIS’s aim of ensuring its long term sustainability.
The NIS contribution rate will gradually increase from 10 per cent to 15 per cent by 2027.
In 2024, contribution rates moved from 11 to 12 per cent and in 2025, contribution rates will move from 12 to 13 per cent.
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