NIS Reserves Surpass $500M as $98M Paid to Pensioners in 2025

Executive Director of the National Insurance Services (NIS) – Mr Stewart Haynes. Image credit: API.

By Val Matthias. Updated 10:33 a.m., Sunday, February 22, 2026, Atlantic Standard Time (GMT-4).

Executive Director of the National Insurance Services (NIS), Stewart Haynes, has assured pensioners that the fund remains strong, with reserves now exceeding half a billion dollars and nearly $98 million paid out in pensions last year.

Speaking at the NIS Pensioners’ appreciation event, Haynes highlighted the scale of contributions and payouts in 2025, noting that workers contributed approximately $120 million, of which $98 million was returned directly to retirees. “The most effective mechanism in putting monies back in people’s pockets is NIS,” he told the gathering, stressing that the system is designed to provide lifetime income.

Haynes explained that $10 million was spent on administration, while an additional $7 – 8 million was added to investment income of $32 million, helping to build the reserve. “The reserve is now over half a billion dollars,” he said, describing it as a safeguard for future generations.

The director acknowledged past financial imbalances caused by frequent pension increases in the 1990s and 2000s but said reforms had stabilised the system. In 2024, the NIS raised the minimum pension from $70 to $80 per week, benefiting 2,200 pensioners, including 1,000 who saw a 14 percent increase.

While pensioners have voiced concerns about the rising cost of living, Haynes cautioned that any future increases must be guided by actuarial review rather than political decisionmaking. “A pension is a lifetime income. When we make decisions about increasing, we have to do this in a very responsible and sustained manner,” he said.

Haynes framed the NIS as an intergenerational contract, pointing to his own mother as a pensioner and his daughter as a future contributor. “We do not want to leave a broken system for our children and grandchildren,” he added.

The event, themed “Legacy of Love,” was attended by Prime Minister Dr. Godwin Friday and other government officials, underscoring the administration’s commitment to pension security.

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