Tancoo unveils NIS overhaul: higher rates, later retirement age
Finance
Politics
Legal
October 14, 2025
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THE NATIONAL Insurance Scheme (NIS) is set for major reforms, Finance Minister Davendranath Tancoo has announced.
Without decisive action, he warned, the fund would collapse within the next decade — leaving hundreds of thousands of retirees without income protection.
During his 2026 national budget presentation in Parliament on October 13, Tancoo announced a phased increase in contribution rates and a gradual rise in the retirement age from 60 to 65 over the next ten years.
Finance
Politics
Legal
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