Director of the National Insurance Services NIS Stewart Haynes said an increase in the NIS contribution rate for employers and employees is necessary to ensure that there is sustainability.
Mr. Haynes made the statement during the Talk Yuh Talk program on NBC Radio this week.
Mr. Haynes said the total expenditure rate is exceeding the income and as such, an increase in contribution is necessary for the system to function more efficiently.
Mr. Haynes said the NIS has the lowest contribution rate within the region.
