Old-Age Non Contributory Pension

About the program

Non-contributory pension for those over 65 who do not meet the minimum conditions to qualify for the basic contributory pension, and are classified as vulnerable people.

Country Bahamas
Classification Pensiones
FNS Dimension Acceso
Website http://www.nib-bahamas.com/_m1753/Assistances
Objectives

Grant a monetary benefit to residents of the Bahamas that are not inserted in the National Old Age Pension System.

Components and/or products

Non-contributory pension: It is a non-contributory pension to which people over 65 years of age can access, which are vulnerable and not a part of the contributory pension system; it is paid for life or until the beneficiary's status changes. Since July 2001, the monthly pension amount is USD$200.

Target population

People who meet the following conditions:

  1. Persons who immediately before October 7th 1974 received a pension under "Old Age Pensions Act".
  2. People who reach age 65, are retired and do not qualify to be insured with a retirement benefit due to insufficient contributions and is declared a person living in vulnerability.
  3. People who reach age 65, retirees who are vulnerable and who are not insured residents Bahamas
Scope

Nacional

Geographical coverage Urbano y rural
Responsible organism

The National Insurance Board

Executing organism The National Insurance Board
Normative framework

National Insurance Act CH350-1

Financial sources

Gobierno de Bahamas.