Growing public confusion surrounding transaction fees for national insurance contributions has prompted the National Insurance and Social Security Service (NISSS) to issue a formal clarification addressing widespread misconceptions that emerged after the rollout of its updated digital payment options for self-employed workers.
In an official statement released to media outlets, the agency emphasized that no contribution transaction fees of any kind are charged to self-employed contributors, regardless of whether they submit payments in person at physical offices, through the digital Surepay platform, or via the EZpay+ service. To resolve the most common point of misunderstanding, NISSS explained that the $0.30 per-transaction convenience fee charged by Surepay only applies to over-the-counter cash and cheque transactions, and this small charge never applies to self-employed national insurance contribution payments processed through the platform.
The statement also drew a clear distinction between third-party convenience fees and legislated retroactive contribution surcharges, a second point that sparked public discussion. Under the terms of the National Insurance and Social Security (Amendment) (No. 2) Act, a 5% annual statutory surcharge is mandatory for all retroactive contributions covering previous income years. This surcharge applies equally to all payment methods, both in-person and digital, and is not a fee imposed by NISSS itself, but a legal requirement laid out in legislation.
To illustrate how the surcharge works, NISSS provided concrete examples for contributors: for the 2025 income year, the 5% surcharge will only apply to contributions submitted after January 15, 2026. For 2024 income year contributions, a 10% cumulative surcharge (two years of 5% annual increases) will apply to any payments made after the same January 15, 2026 deadline.
For the upcoming 2026 income year, the agency confirmed that the regular payment window runs from January 1, 2026 to January 15, 2027, and no retroactive surcharge will apply to any contributions submitted within this period.
In additional news related to payment infrastructure, NISSS announced that it is on track to join the second phase of the BIMpay digital payment platform next month. The agency has been working closely with the Central Bank of Barbados to meet all technical and regulatory requirements needed to process contribution payments and disburse benefit payments through the new system. Further details about the onboarding process and available features will be released to the public once preparations are finalized.