NIB Press Statement
The public is advised that no decision has been made at this time to increase the retirement age from 65 to 67. The statement made is false.
NIB further advises that while the Reserves of the NIB have grown over the life of the Fund (and now stand at $1.5 billion), the Reserves are currently in a state of decline, principally because the amount of benefits paid annually have exceeded the amount of annual contribution income received from 2016.
