Reminder: Increase In NIS Contribution Rates From 13.2% To 16.2% In Effect
Following the passing of the 2025 Finance Bill, a structured increase in contribution rates for the National Insurance System (NIS) was introduced as part of measures to strengthen the sustainability of the scheme.
According to the National Insurance Board of Trinidad and Tobago (NIBTT), from 5th January, 2026, the contribution rate will be adjusted from 13.2% to 16.2%, “ensuring the long-term sustainability of pensions and other key National Insurance benefits. This measure is pivotal to the future of the Fund, ensuring that today's workforce, as well as future generations, can rely on a strong and stable NIS.”
Employers and employees are encouraged to review these rates below:
A phased 6% increase to the NIS contribution rate was announced by the Honourable Davendranath Tancoo, M.P., Minister of Finance, during his National Budget 2026 presentation on 13th October, 2025. There will be an increase by 3% (from 13.2% to 16.2%), effective from 5th January, 2026, followed by another 3% increase (from 16.2% to 19.2%) from 4th January, 2027.
Please be guided accordingly.
Comments
Post a Comment