The Antigua & Barbuda Social Security Board wishes to remind the general public that pursuant to Statutory Instrument 2016 No. 60, Social Security (Collections of Contributions) (Amendment) Regulations, the contribution rate for 2020 has increased to 13.5% for private sector employees; and 12.5% for public sector employees. The maximum insurable earnings remain at $6,500.00. The following Table shows the schedule in the movement of the contribution rate.
The decision to increase the contribution rate was based on the recommendations of the 10th and 11th Actuarial Reviews; and, is expected to improve the fund solvency in the long-term.
Please be guided accordingly.