Social Security Contributions To Increase On January 1

10

(PRESS RELEASE)

The Antigua & Barbuda Social Security Board (ABSSB) wishes to remind ALL Employers that in accordance with the Social Security (Collection of Contributions) (Amendment) (Regulations), Statutory Instrument No. 60 of 2016, the contribution rate will increase by ½% as of January 1, 2019.

Therefore, the new contribution rates are broken down as follows:

Private Sector – 13%

  • Employees – 5½%
  • Employers – 7½ %

Public Sector – 12%

  • Employees – 4½ %
  • Employers – 7½ %

The contribution rate for Self-employed persons remains at 10%.

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10 COMMENTS

  1. They are very quick to put out this reminder, but
    are not quick to collect as mandated by law, from employers (GOVERNMENT AND PRIVATE ALIKE), outstanding contributions of Millions that have alreafy been deducted from employees wages and salary so pensioners can get their pension on time and let it not appear as if pensioners are begging………
    They are increasing contributions so often and still they have no money. Bad management. Looking forward to improvement in 2019.
    My Christmas will not as I expected since I have not received my backpay. neither December Social Security Pension

  2. Antigua is the only place in the world where Government can do as they please even in the midst of no accountability. I am calling on both employers and employee to resist this new rate increase because at the end of the day, nothing will change with the financial position of the Social Security Scheme. Private sector employers and employee must also protest the continued non payment by government into scheme which is really the cause of the scheme being in the financial disaster it is in. When Government says pay, we cannot just pay without accountability. I am also demanding that the current board of Social Security Scheme be disbanded and civic society, churches and others set up a board to manage the functions of the scheme. If we don’t do that, no amount of increase contribution would help the struggling scheme.

  3. You have to plug the holes in the bucket before you try to fill it. All these increases make no sense if the moneys continue to be miss managed.

  5. Public Sector employees need to pay the same rate as Private Sector employees. I’m tired of these government workers (they don’t even work that much) getting better benefits than real business people.

    Also, the government needs to criminally prosecute any company or company owner that does not pay these contributions to social security.

    Lastly, we need to create a new retirement system like what Singapore has. Our current system is failing.

  7. Read through the comments and its my opinion that no amount of increases is going to change anything since social security seems to lack the political will. What do I mean by that? Imagine if I am a business and I owe and social security comes knocking for their money all I would do is call my politician friend who then in turn will call social security and tell them to back off. Further, suppose now I owe 5 million dollars you take me to court and I lose however I am unable to pay guess what is shut I have to shut down thereby putting people out of work. Government needs to pay in its contributions since it owes the most.

  8. A simple concept that too many fail to grasp. A truly negligent government when the interests of the nation are at stake.

  9. 5% public service increase minus 1/2% social security, 11/2% inflation equals 3% public service increase.

    How is that equitable?

Comments are closed.