Reminder to All Employers and Self-employed Persons

The Social Security Board wishes to remind all employers and self-employed persons that the amended Collection of Contributions Regulations, No. 15 of 2013 came into effect May 1, 2013.

The new contribution rates are as follows:

Self-employed persons- 10%
Private Sector employees- 4%; Employers-6%
Public Sector employees-3%; Employers-6%

The new contribution ceilings are:

Monthly maximum- $6,500
Fortnightly maximum- $3,000
Weekly maximum- $1,500