National Insurance Scheme (NIS)

The National Insurance Scheme in Grenada is a contributory system of insurance which offers protection to its’ members against economic distress caused by the inability to work or reduction in earnings caused by Illness, Invalidity, Maternity, Aging or Death.
The NIS is a contributory system where employers and employees make mandatory contributions.

The National Insurance Contributions (NICs) paid are 4% of the Employees’ Insurable Earnings by both Employers and Employees.
The plan also establishes a maximum Monthly Insurable Earnings of $3,500.00 or weekly Insurable Earnings maximum of $810.00 (that is to say ‘ NICs is not deducted on earnings above $3,500.00 Monthly or $810.00 weekly).
These ceilings are schedule to change in 2012 and 2014.

There is also a 1% of the Employees’ Insurable Earnings mandatory contribution paid by Employers for Employment Injury coverage.

The benefit component comprises amount determined by the claimant's contribution record.
Benefits paid by the NIS includes:
Sickness Benefit - Maternity Benefit - Employment Injury Benefit - Invalidity Benefit -
Age Benefit - Survivors Benefit - Funeral Benefit
Click "here" for details Benefit details,how to claim and who qualifies for these Benefits.