{"id":166538,"date":"2022-12-30T22:05:14","date_gmt":"2022-12-31T02:05:14","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=166538"},"modified":"2022-12-31T08:29:04","modified_gmt":"2022-12-31T12:29:04","slug":"contribution-and-pensionable-age-increase","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/contribution-and-pensionable-age-increase\/","title":{"rendered":"Social Security Contributions and pensionable age Increase from tomorrow"},"content":{"rendered":"
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FOR IMMEDIATE RELEASE<\/p>

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Contribution and Pensionable Age Increase<\/p>\n

Friday 30th December 2022 -To ensure that the Antigua & Barbuda Social Security Board (ABSSB) continues to honour its financial commitment to all beneficiaries and enhance Contributors’ Funds, the ABSSB is reminding the public of the following Statutory Instruments that will take effect January 1st, 2023.<\/p>

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The Social Security (Collections of Contributions) (Amendment) (Regulations)
\nStatutory Instrument No. 60 of 2016, the contribution rates will increase by \u00bd%.
\nThe contribution rates for 2023 will therefore be 14% for the public sector; and 15% for the private sector, while Self-Employed rate remains at 10%.<\/p>

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The following shows the breakdown of contribution rates:<\/p>\n

PUBLIC SECTOR:
\nEMPLOYEE – 5\u00bd %
\nEMPLOYER – 8\u00bd %
\nPRIVATE SECTOR:
\nEMPLOYEE – 6\u00bd %
\nEMPLOYER – 8\u00bd %<\/p>

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In addition, the pensionable age will increase to 64 years in accordance with Social Security (Benefits) (Age Pensions and Grants) (Amendment) Regulations Statutory Instrument No.61 of 2016.<\/p>\n

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\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

FOR IMMEDIATE RELEASE Contribution and Pensionable Age Increase Friday 30th December 2022 -To ensure that the Antigua & Barbuda Social Security Board (ABSSB) continues to honour its financial commitment to all beneficiaries and enhance Contributors’ Funds, the ABSSB is reminding the public of the following Statutory Instruments that will take effect January 1st, 2023. The […]<\/p>\n","protected":false},"author":3,"featured_media":116047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-166538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nSocial Security Contributions and pensionable age Increase from tomorrow - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/contribution-and-pensionable-age-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social Security Contributions and pensionable age Increase from tomorrow\" \/>\n<meta property=\"og:description\" content=\"FOR IMMEDIATE RELEASE Contribution and Pensionable Age Increase Friday 30th December 2022 -To ensure that the Antigua & Barbuda Social Security Board (ABSSB) continues to honour its financial commitment to all beneficiaries and enhance Contributors’ Funds, the ABSSB is reminding the public of the following Statutory Instruments that will take effect January 1st, 2023. 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