NIB contribution calculator
Work out National Insurance contributions on any wage: the employee's share, the employer's share and the total, or the contribution a self-employed person pays. For payroll staff, small business owners and anyone checking their payslip.
Contributions
How this is calculated
Contributions are a percentage of insurable wages: your gross pay for the period, up to the insurable wage ceiling.
Employee contribution = insurable wages × employee rate
Employer contribution = insurable wages × employer rate
NIB publishes the ceiling as a weekly and a monthly amount. For fortnightly pay we use twice the weekly ceiling, for semi-monthly pay half the monthly ceiling, and for annual figures twelve times the monthly ceiling. Each contribution is rounded to the nearest cent.
Current rates
| Employee rate | 4.65% |
| Employer rate | 6.65% |
| Self-employed rate | 10.3% |
| Insurable wage ceiling (weekly) | $830.00 |
| Insurable wage ceiling (monthly) | $3,597.00 |
The current rates (4.65% employee, 6.65% employer, 10.3% self-employed) took effect on 1 July 2024. The insurable wage ceiling is adjusted every two years; it last rose on 1 July 2026, from $810 to $830 a week ($3,510 to $3,597 a month).
NIB applies the new ceiling to workweeks that start on or after 6 July 2026; the week starting 29 June 2026 still uses $810.
Worked example
An employee paid $2,500.00 a month is below the monthly ceiling of $3,597.00, so contributions are charged on the full amount:
- Employee: $2,500.00 × 4.65% = $116.25
- Employer: $2,500.00 × 6.65% = $166.25
- Total to NIB: $282.50 a month, $3,390.00 a year
On $6,000.00 a month, contributions are capped at the ceiling of $3,597.00: $167.26 employee and $239.20 employer.
Deadlines
- Employers pay each month's contributions (both shares) to NIB by the 15th of the following month. Late payments attract interest.
Frequently asked questions
Who has to pay National Insurance in The Bahamas?
Employed people, their employers and self-employed people pay contributions to the National Insurance Board (NIB). Employers deduct the employee share from wages and pay both shares to NIB.
What is the insurable wage ceiling?
It is the maximum amount of wages that contributions are charged on. If you earn more than the ceiling, your contributions stay at the ceiling amount; they do not keep rising with your pay.
What do NIB contributions pay for?
They fund National Insurance benefits such as sickness, maternity, invalidity, retirement and survivors' benefits, industrial injury benefits and funeral grants, subject to NIB's qualifying rules.
Is this the same as income tax?
No. The Bahamas has no personal income tax. National Insurance is a social security contribution, and it is usually the main statutory deduction from a Bahamian payslip.
I am self-employed. How often do I pay?
Self-employed people pay NIB directly. Check NIB for the current payment schedule and deadlines; this calculator shows the amount per period, per month and per year so you can plan for it.
Sources
- NIB – 2026 biennial adjustments: insurable wage ceiling rises to $830
- NIB – 2026 biennial adjustments flyer (PDF)
- National Insurance Board – contributions
Rates last verified: 2026-10-07. Rates effective from 1 July 2026. Rate changes log
This is an estimate for planning only. Confirm figures with the relevant government department, your bank or a qualified professional before making decisions. See our terms.