Page 133 - NIB Annual Report 12-13 | 13-14

TURKS AND CAICOS ISLANDS NATIONAL INSURANCE BOARD
Notes to Financial Statements, continued Year ended March 31, 2014
14. Interest and other income, continued
Rental income of US$128,000 relates to the rental of office space included in property and equipment (2013 – US$128,000 from office space included in property and equipment and US$368,240 from investment property).
15. Benefits
Long-term benefits
Retirement pension benefit Survivors benefit
Old age non contributory Invalidity pension
Funeral grant Retirement grant Survivors grant
Short-term benefits
Maternity allowance Sickness benefit Maternity grant
Employment injury benefits/disablement and death benefits
Injury benefit
Disablement benefit
Death benefit
Constant attendance allowance Disablement grant
Medical care
US$
2014
6,453,572 878,848 792,015 749,902 116,398
78,925 2,420 9,072,080
822,154 716,382 194,300
1,732,836
385,034 232,857 129,728
7,800 – – 755,419
11,560,335
2013
5,632,175 1,189,471 807,554 720,232 122,900 103,097 9,855 8,585,284
766,875 712,652 190,000
1,669,527
3,235,006 229,104 144,500
7,800 12,476 589 3,629,475
13,884,286
Refer to note 22 for additional information on long-term benefits.
During the year ended March 31, 2013 TCIG claimed US$3.15 million of interest on unpaid medical treatment costs from April 6, 1992 to March 31, 2010 as part of a proposal submitted by TCIG to NIB seeking simultaneous settlement of several outstanding issues. Legal counsel for NIB advised that there was no legal basis for paying TCIG’s aforementioned claim for interest although legal counsel for TCIG advised that there was such a basis.
2013 & 2014 ANNUAL REPORT |129 37
US$