NIB Bahamas Old Age Non-Contributory Pension (OANCP)

Organisation : The National Insurance Board (NIB)
Facility Name : Old Age Non-Contributory Pension (OANCP)
Applicable For : Person who has reached the age of 65 years, has retired from gainful occupation
Country : Bahamas
Website : https://www.nib-bahamas.com/Assistances

What is Old Age Non-Contributory Pension (OANCP)?

Old Age Non-Contributory Pension is a payment made to a Bahamian resident who is 65 years old or older, who does not qualify for Retirement Benefit, and who has been assesed as being needy based on the “Test-of-Resources.”

Related / Similar Facility : NIB Bahamas Invalidity Assistance

Eligibility of Old Age Non-Contributory Pension (OANCP)

Old Age Non-Contributory Pension (OANCP) is awarded to:
a) a person who immediately before October 7, 1974, was in receipt of pension under the Old Age Pensions Act; or

b) a person who has reached the age of 65 years, has retired from gainful occupation and who, being an insured person, fails to qualify for Retirement Benefit on account of insufficient contributions and is determinee to be needy; or

c) a person who has reached the age of 65 years and has retired from gainful occupation, is needy and who, not being an insured person, is resident in The Bahamas at the date of claim for assistance. Also, he/she must be a citizen of The Bahamas or had been ordinarily resident in The Bahamas, and had worked as an employed or self/employed person, for a period of not less than twelve months without interruption within the fifteen years immediately preceding the date of the claim.

FAQ On Old Age Non-Contributory Pension (OANCP)

Frequently Asked Questions FAQ On Old Age Non-Contributory Pension (OANCP)

How long is OANCP paid?
OANCP is paid for life, or until the claimant’s status changes. Persons receiving OANCP who leave The Bahamas for more than three (3) months, will have their payments discontinued, unless the Director authorizes continued payment. OANCP payments will be increased from $160 per month to $180 per month, as of January,1999.

Are there any plans to increase the rate of payment?
Yes. The rate of payment will be increased from $160 to $180 per month, as of January, 1999, and to $200 as of July, 2001.

What is the rate of payment for OANCP?
At the moment, OANCP is paid at a rate of $160 per month.

What is Verification?
Verification is the process whereby pensioners are required to “prove that they are alive and are who they say they are.” Pensioners are required to bring in some form of picture identification in order to be verified, for example a passport, or Voter’s Card.

Is the verification process carried out annually?
No, the verification process is to be carried out at least twice annually.