With the COVID-19 pandemic having encouraged new approaches to fulfilling and rewarding work, particularly from those who were not re-employed, Labour Minister Colin Jordan is urging all self-employed persons to contribute to the National Insurance Scheme (NIS).
The appeal came yesterday as he addressed the virtual church service to mark the Schemes’ 54th Anniversary under the theme: 54 Years of Health, Safety and Protection.
Noting that some persons have used their skills and talents to start business ventures in areas in which they have had an interest, he said: “For those who are now self-employed and may think that NIS does not apply to them, or do not know how to start paying their own contributions, I make an appeal to you to obtain the necessary information, register with the NIS, and start contributing towards your future.”
He further reminded them of a range of NIS benefits available to self-employed persons including old-age contributory pension, survivors’, sickness and maternity benefits. “NIS is for you!” stressed the Labour Minister.
It was noted that in 2020, there were 3,156 registered self-employed persons who paid NIS contributions and this represents a low percentage of coverage among this category of persons.
Minister Jordan added that in that same year, special provisions were made for self-employed persons who were affected by the impact of COVID-19.
And, he said: “This resulted in the payment of the one-time Business Interruption Benefit of $1,500 per month for April and May 2020 to 1,477 self-employed persons who met the qualifying criteria. This totaled approximately $4.4 million.”