NIS sees 37% surge in active contributors since 2020 – Finance Minister

The number of active employed contributors to the National Insurance Scheme (NIS) has grown from 184,928 in 2020 to 253,489 as of August 2025, an increase of 68,561 persons. According to Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, the number of active employed contributors presents an increase of more than 37 per cent. Singh who was at the time addressing the Insurance Scheme’s 56th General Assembly on Monday said the rise in contributors directly mirrors the expansion of the country’s workforce and the rapid pace of economic growth over the past five years.

“That of course should not come as a surprise to us, because we know from other data sources that over the course of the five years from August 2020 to August 2025, we know that during that period, more than 60,000 new jobs were created. We know that from data available elsewhere. And so what this number confirms is in fact, or what this number reflects, is consistency with that which has been determined by other administrative data that we have, that more nearly 70,000 persons are working today, more than were working in August of 2020, reflecting the growth and expansion in our economy, the expansion in private investment, the opening of new companies and new businesses and new enterprises, and the creation of more jobs,” Singh said. The Finance Minister noted that this increase also demonstrates heightened confidence in the formal economy, with more Guyanese securing stable employment in both the private and public sectors.
Increase in self-employed contributors
Singh also pointed to a significant increase in self-employed contributors, from 6,210 in August 2020 to 13,288 in August 2025. That represents an increase of more than 7,000 persons, or a 113 per cent rise over the five-year period. He described this as a positive trend, reflecting growing entrepreneurship and the expansion of small and micro-enterprises throughout the country. “So, if you put this together, if you put together the 68,000, nearly 69,000 more persons who are on the active employed persons role, and the 7,000 plus who are on the self-employed role, the NIS has more than 75,000 more active contributors in August of 2025 than the scheme had in August of 2020. That’s 75,000 more people that you’re receiving contributions from,” the Minister added.
Efficiency and expansion
The Finance Minister commended the staff of the NIS for managing the growing volume of contributions while continuing to deliver on their mandate. The Minister also urged the scheme to continue strengthening its administrative systems and capacity to meet the growing demand, emphasising that the Government expects further expansion in the years ahead as new investments come on stream.
“I want to say to you that we expect more of the same going forward, given the very aggressive and exciting agenda that President Ali has outlined for his second term,” he said adding that “we anticipate continued expansion in the economy, and we therefore anticipate that continued and growing demands will be made of the scheme as more people enter the world of work, and therefore as more people enter the register of active contributors at the scheme… The work is not going to get easier, and it’s not going to get less, it’s going to get more. What shouldn’t necessarily say it will get harder, but it will get more.”
Meanwhile, Singh disclosed that over the past five years, the administration has also made tangible strides in strengthening social security benefits and supporting pensioners. The Government has consistently increased NIS pensions and has pledged to continue these upward adjustments in the coming years. During a recent press conference, Vice President (VP) Bharrat Jagdeo reiterated this commitment, highlighting the Government’s ongoing One-Off Payment initiative for long-serving NIS pensioners. Launched in June this year, the programme allows eligible pensioners, those with at least 500 NIS contributions to receive special one-time payments based on their contribution brackets. Pensioners with 500–549 contributions receive $260,000, those with 550–599 contributions receive $390,000, those with 600–699 contributions receive $520,000 while those with 700–749 contributions receive $650,000. Over the last term, under the current administration, the minimum rate for NIS pensions was raised from $35,000 to $43,075 per month, while the minimum Survivor’s Pension increased from $17,000 to $21,537 per month.