Voluntary Contributions


The Legislation governing the Voluntary Contributory Coverage was enacted in 1997. However, this applied only to local nationals. Hence, in 2001 coverage was extended to Vincentians living abroad.

Purpose

  1. This is to afford Vincentians residing abroad the opportunity to continue paying their NIS contributions, or to become members of the NIS, particularly the undocumented Vincentians who cannot contribute to social security in the Country where they reside.
  2. Also this is to provide Vincentian nationals in the Diaspora the opportunity to contribute to national development.

 

Who are Voluntary Contributor?

Any person who:

  1. is between ages 16 and Pensionable Age.
  2. is a citizen of St. Vincent and the Grenadines and resides in another country.

REGISTRATION

  • Persons are required to complete an application form to be accompanied by copies of their passport or birth certificate, and marriage certificate in the case of married women.
  • The application form can be obtained at Consulate offices abroad, or at the NIS Office. Persons can also download the form from our website at here

CONTRIBUTIONS

  • The current contribution rate is 8.84%
  • Payments must be remitted on a quarterly basis.
  • The procedure for remittance of contributions is the one best suited to the contributor.
    Some suggested methods of payments are:
    1. Electronic transfers to the NIS bank account.
    2. Establishing a bank account in St. Vincent making standing order provisions for payments to the NIS
    3. Direct payments using postal orders or bank drafts (personal cheques are not accepted).
Please note the following:
  • Persons between the age of 50 and 55 years, who are contributing for the first time, should select a quarterly income category of EC$1728 (category D) or below, and should make retroactive payments.
  • A retroactive payment period from the year 1997 to present is allowed.
  • Contributors should not miss payment for more than 2 consecutive quarters.

 

The categories of income are listed below:

Category Monthly
Income
Monthly
Contri-
bution
Quarterly
Income
Quarterly
Contri-
bution
(8.84%)
Monthly
Income
Quarterly
Income
Monthly
Contri-
bution
Quarterly
Contri-
bution
US$ US$ US$ US$ EC$ EC$ EC$ EC$
A 1392.00 123.05 4333.00 369.16 3716.64 11149.92 328.55 985.65
B 960.00 84.86 2880.00 254.59 2563.20 7689.60 226.59 679.76
C 768.00 67.89 2304.00 203.67 2050.56 6151.68 181.27 543.80
D 576.00 50.92 1728.00 152.76 1537.92 4613.76 135.95 407.86
E 385.00 34.03 1155.00 102.11 1027.95 3083.85 90.87 272.61

 

Question: If persons choose a particular category can they change or do they remain in this category indefinitely?

Answer:

Yes persons can make the appropriate change as their income level changes. But this can only be done after a 6 month period.

 

 

BENEFITS PACKAGE

The following benefits are available to self-employed persons:

 

VOLUNTARY CONTRIBUTORY COVERAGE FOR LOCAL NATIONALS

The Legislation governing the Voluntary Contributory Coverage for local nationals was enacted in 1997.

Purpose

This coverage is designed for persons who have ceased working in insurable employment in St. Vincent and the Grenadines, but wish to continue paying their NIS contributions.

Qualifying Conditions

Any person who:

  • Is sixteen years or over and under the Pensionable Age.
  • Ceases compulsory insurable employment in St.Vincent and the Grenadines.
  • Is a citizen of St.Vincent and the Grenadines and resides in the State

 

Benefits Available to Voluntary Contributors:
  •  Age Benefit
  •  Survivor’s Benefit
  •  Funeral Grant
  • Invalidity

 

Registration Procedures

Persons are required to complete an application form to be accompanied by copies of the birth certificate or passport and marriage certificate in case of married women

The Payment of NIS Contributions
  •  The current contribution rate is 8.84%
  •  Persons are required to pay contributions on their last monthly salary.
  •  Payments should be paid to the NIS office on a quarterly basis, and must be fully paid before reaching Pensionable Age.
  •  Persons must have at least 500 contributions by Pensionable Age. Hence, persons older than age 50 are allowed to make retroactive payments to satisfy this condition

 

PENSIONABLE AGE

YEAR OF BIRTH PENSIONABLE AGE
1955 and before 60
1956-1957 61
1958-1959 62
1960-1961 63
1962-1963 64
1964 and after 65