PM Gonsalves encourages self-employed to make NIS payments

Self-employed persons in St. Vincent and the Grenadines (SVG) have expressed effects they have faced due to global pandemic COVID-19.

Many Vincentian workers, vendors, van operators and others have received income support from the National Insurance Service (NIS) and/or the government’s COVID-19 Stimulus & Recovery Package.

Prime Minister, Dr. Hon. Ralph Gonsalves speaking on XtremeFM with Christal and Tha Fugitive recently, encouraged own account workers to make regular NIS payments, in order to benefit from unemployment benefit plans.

So far over, 1,000 persons have received temporary finance assistance from NIS.

“What I want to encourage, all persons who are own account workers, like an individual barber, I would advise you to go and pay your NIS on an ongoing basis.”

“Some people feel that when they go and pay NIS, its a diminution of their income now, but in fact, what you’re doing, you’re having a forced savings for your retirement and you will get back more than you actually put in, because the NIS invests the contributions, and the investments have a return, and that is the idea of the solidarity of the NIS.

“But many own account workers don’t pay NIS, and if you don’t pay the NIS, you’re not going to get the unemployment benefit.”

Dr. Gonsalves also advised the self-employed workers to sign up for the PRYME and PRYME Plus programmes offered by the government.

On Tuesday (May 19), grants were dispersed to eighty (80) young persons, with each applicant receiving between $2,500 and $40,000 as part of the PRYME programme.