Government is urging more entrepreneurs to contribute to the National Insurance Scheme (NIS) fund.
During a church service yesterday at The People’s Cathedral, Bishop Court’s Hill, St Michael, in celebration of the NIS 55th anniversary, Acting Minister of Labour Senator Dr Shantal Munro-Knight said many entrepreneurs were still declining to pay NIS contributions which would affect them adversely later.
“The pandemic has showed us the unexpected can have devastating impacts so we must be like the five wise virgins and prepare for our future. I’m making an appeal to self-employed persons to contribute to the scheme so they could also secure their future.
“The records show fewer than 20 per cent classified as self-employed contribute to the NIS so we urge all self-employed persons . . . to contribute. For as little as $15.56 a month, you will be provided with coverage for several benefits and for at least ten years’ worth or 500 contributions, you can secure a minimum old age contributory pension. I urge the self-employed to please aim to qualify for this,” she said. (CA)
Subscribe now to our eNATION edition for the full story.