NISSS clarifies no transaction fees for self-employed payments

The National Insurance and Social Security Service (NISSS) has moved to dispel public concern over payment charges, stating that it does not levy any transaction fees on self-employed people making contributions, whether in person, online via Surepay, or through EZpay+.

In a media release, the NISSS sought to clarify several issues arising in public comments following the recent launch of its new online contribution payment methods.

Surepay’s $0.30 per-transaction convenience fee for cash and cheque payments applies to in-person, over-the-counter transactions only, the NISSS noted, adding that self-employed contributions for income year through Surepay will not incur this fee. EZpay+, the government’s own bill payment service does not levy a proprietary transaction fee on payments made through the platform, it added. 

Regarding self-employed people seeking to make retroactive contributions for prior income years, the NISSS said that under the National Insurance and Social Security (Amendment) (No. 2) Act, a legislative surcharge of five per cent per year applies to prior-year contribution payments.

“For income year 2025, the surcharge of five percent applies to payments made after January 15, 2026. For income year 2024, the surcharge of 10 percent applies to payments made after January 15, 2026. This surcharge applies to all prior-year contributions, whether made in person or online. 

“This surcharge is a statutory provision under the National Insurance and Social Security (Amendment) (No. 2) Act, 2023-25, and is not a transaction fee levied by NISSS. The payment window for self-employed persons to make NIS contributions for the 2026 income year extends from January 1, 2026 to January 15, 2027. No surcharge applies to these payments,”

The service also confirmed that it will be onboarded to the BIMpay Phase 2 rollout next month, following its engagement with the Central Bank of Barbados on the requirements for facilitating contribution and benefit payment transactions through the platform. It added that further details will be communicated in due course.

(PR/JB)

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المصدر: Barbados Today