National Insurance Scheme Grenada

Employer

An employer is a person or corporate body with whom an employee has entered into a contract of service or apprenticeship expressed or implied whereby such a person or corporate body is liable to pay salary, wages or other remuneration for services performed by the employee.

Employee

 All Employees are required to register with the NIS and pay contributions. To register an employee must submit his or her certified birth certificate, a valid picture ID and all other relevant supporting documents where necessary (marriage certificate, deed poll, proof of citizenship, etc.). All employees should present their NIS card to their employer upon commencement of employment.

Voluntary

 A voluntary contributor is someone who is between ages 16 and the pensionable age (currenlty 62), and while not employed or self-employed, wish to continue to have contributions paid on their behalf.

Self Employed

All self-employed persons are required by law to be registered with the NIS and to pay contributions. The contributions rate for a self-employed person is 13% of gross earnings. Self-employed persons over the age of 65 are required to pay 1% of gross earnings for employment injury benefit. The maximum earnings on which contributions are payable is $5,200.00 per month

Effective July 1, 2023, new Self-employed regulations were introduced. Under these regulations, Self-employed persons can:

Choose to pay monthly or in lump sums annually.

• Pay any amount between $873 and $8,112 annually to qualify for all NIS benefits (including Sickness, Maternity, Unemployment and Employment Injury Benefits).
• To qualify for benefits the following year you it is mandatory to contribute in the current year (must contribute in 2025 to qualify for benefits in 2026).
• Enjoy the advantage of no panalties and interest for late payment
• Make self-employed payments even when employed elsewhere (provided that contribution payments amount to no more than $8,112 a year).