By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

A Cabinet minister yesterday revealed National Insurance Board (NB) employees could soon remain on the job until age 65 instead of retiring at 60, arguing the change will help retain experienced staff and preserve institutional knowledge.

Pia Glover-Rolle, the labour and public service minister, in her contribution to the 2026-2027 Budget debate said NIB's current retirement policy was established decades ago under circumstances that no longer reflect today's workforce.

"Today, however, Bahamians are living longer, healthier and more productive lives," she said. "Many employees reach age 60 possessing invaluable institutional knowledge, technical expertise, leadership experience and professional judgment that simply cannot be replaced overnight."

Mrs Glover-Rolle said many workers are required to leave the organisation despite being capable and willing to continue contributing. "That approach is no longer practical. It is no longer efficient. And it is increasingly inconsistent with workforce realities throughout the world," she said.

Mrs Glover-Rolle disclosed that NIB's Board intends to move towards aligning the retirement age for employees with the national pensionable age of 65. "The national pensionable age remains 65. Most Bahamians continue working until at least that age. There is no compelling reason why National Insurance should continue operating under a significantly different standard,” she added.

The minister emphasised that the proposed change would not be imposed abruptly on employees nearing retirement. "The transition will be managed carefully and responsibly," Mrs Glover-Rolle said, adding that grandfathering provisions, legal obligations and financial implications would all be considered before implementation.

She said the initiative is aimed at retaining experience, preserving institutional knowledge and strengthening operational continuity at the country's social security institution.

Her comments came during a broader review of National Insurance operations, sustainability and modernisation efforts outlined in the Government's 2026-2027 Budget. NIB currently provides benefits to more than 50,000 pensioners, and processes thousands of claims annually, according to Mrs Glover-Rolle.