NIB Retirement Benefit Calculator

1 Age

2 Top 5 Years

3 Contributions

4 Results

1 Your Age Information

Enter your current age and when you plan to retire.

Current Age

Planned Retirement Age

Adjustment Factor Rates

Retiring early means a reduced benefit. Delaying retirement increases your benefit (from NIB leaflet, Revised July 2014):

Retirement Age	Adjustment	Note
60	65%	35% early penalty
61	72%	28% early penalty
62	79%	21% early penalty
63	86%	14% early penalty
64	93%	7% early penalty
65	100%	Full retirement (baseline)
66	107%	7% delayed bonus
67	114%	14% delayed bonus
68	121%	21% delayed bonus
69	128%	28% delayed bonus
70	135%	35% maximum bonus

2 Your Top 5 Earning Years

Look through your NIB contribution statement and find the 5 years with the highest "Insurable Income BASE" amounts. For each of those years, note the annual income and the number of contributions (weeks).

Enter them manually below, or download your PDF statement and use PDF Upload to auto-extract the data.

How to Get Your NIB Contribution Statement

Option 1: Online via RSS Portal (Recommended)

Email registrant@nib-bahamas.com to request an RSS (Registrant Self Service) account
Attach a photo of your NIB Smart Card to the email
You'll receive a PIN (expires in 30 days)
Log in at registrant.nib-bahamas.com and create your password
Click "Contributions History" and download the Summary report (PDF)

Option 2: In-Person

Visit any NIB Local Office with your NIB Smart Card
Request your Contributions Statement

What Your Statement Shows

Insurable Income BASE - Your total annual insurable income for that year (enter this amount above)
Contributions - Number of weekly contributions that year (enter this number above)
Employer and Employee amounts - What was paid by each party

Tip: The calculator will automatically compute your average weekly wage for each year by dividing the annual income by the number of contributions.

Important: The maximum insurable wage is $810/week (~$42,120/year as of July 2024). Contributions are paid on basic wages only - tips and gratuities are not counted.

Missing contributions? Email contributions@nib-bahamas.com or visit any NIB office to complete Form I5 "Statement by Employed Persons".

Year Insurable Income (Annual) Contributions

Year 1

wks

Year 2

wks

Year 3

wks

Year 4

wks

Year 5

wks

Years with less than 26 contributions won't count toward your average.

Drag and drop your PDF here

Choose File

Accepts NIB Contribution History Summary or Detail reports

Extracted Data Preview

We found the following data in your PDF. Review and confirm to populate the calculator.

Report Type -

Total Contributions -

Years Found -

Avg Weekly Income -

Top 5 Earning Years (Sorted by Annual Income)

Year	Annual Income	Contributions	Weekly Avg

Privacy: Your PDF is processed securely and is not stored on our servers. All extraction happens in memory and data is discarded immediately after processing.

3 Total Lifetime Contributions

Enter the total number of contributions you've made throughout your working career.

Total Contributions

weeks

Minimum 500 contributions required to qualify for retirement benefit

Contribution Percentage Rates

Your benefit percentage is based on your total contributions (from NIB leaflet, Revised July 2014):

Contributions	Percentage
500 - 549	30%
550 - 599	31%
600 - 649	32%
650 - 699	33%
700 - 749	34%
750 - 799	35%
800 - 849	36%
850 - 899	37%
900 - 949	38%
950 - 999	39%
1,000 - 1,049	40%
1,050 - 1,099	41%
1,100 - 1,149	42%
1,150 - 1,199	43%
1,200 - 1,249	44%
1,250 - 1,299	45%
1,300 - 1,349	46%
1,350 - 1,399	47%
1,400 - 1,449	48%
1,450 - 1,499	49%
1,500 - 1,549	50%
1,550 - 1,599	51%
1,600 - 1,649	52%
1,650 - 1,699	53%
1,700 - 1,749	54%
1,750 - 1,799	55%
1,800 - 1,849	56%
1,850 - 1,899	57%
1,900 - 1,949	58%
1,950 - 1,999	59%
2,000+	60%

Your Estimated Monthly NIB Benefit

$ 0.00 /month

At age 65

Compare Retirement Ages

See how your benefit changes based on when you retire:

Retirement Age	Monthly Benefit	Annual Benefit	Difference from Age 65