NIS — National Insurance Scheme

Government Pension

Rating: 4 / 5

The National Insurance Scheme is Jamaica's mandatory social-insurance programme, administered by the Ministry of Labour and Social Security. Employed and self-employed workers contribute, earning entitlement to retirement pensions, sickness and invalidity benefits, maternity, and survivor benefits. Jamaican-listed commercial entities are subject to oversight by the relevant regulator — the Bank of Jamaica for deposit-taking institutions, the Financial Services Commission for insurers, investment managers, and pensions, and the Office of Utilities Regulation for utilities.