Increase in Social Security Contribution Rates. CLICK HERE TO JOIN OUR WHATS APP GROUP
St. John’s, Antigua, Thursday 28th, December 2023 – To ensure our financial commitment to our beneficiaries and the continuous improvement of contributors funds, the Antigua and Barbuda Social Security Board (ABSSB) is reminding the public of the Social Security (Collections of Contributions) (Amendment) (Regulations) Statutory Instrument No. 60 of 2016, that effective January 1st, 2024, the contribution rates will increase by ½% or 0.5%.
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The contribution rates for 2024, will therefore be 14/% for the public sector; and 15%% for the private sector, while the Self-Employed rate remains at 10%.
The decision to increase the contribution rates was based on recommendations by the 10th and 11th Actuarial Reviews.
The following Table shows the breakdown of the contribution rates:
| PUBLIC SECTOR | PRIVATE SECTOR |
| Employee – 5¾% | Employee – 6%% |
| Employer – 8¾% | Employer – 8¾% |
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Half a billion dollars plus was stolen from the fund by the ALP government. With all of the billions they have collected plus CIP revenues and excessive borrowings, ALP could not replace what they stole? I know the Labourites and Gastonites will try to spin this, but Max Hurst, liar that he is, confirmed this.
We the people are being penalize while the culprits walk.
I have absolutely no confidence in Matthias. None. Another crucial post that must be filled with a patriot.
In my opinion, going forward, revenues from Social security, medical benefit and education levy must be chanelled directly into the fund, independent of government interference. Then at years end, as dictated by law, an audited report is tabled for all to see.
Gaston Browne is incompetent and a financial dunce and putting money into his hands is like catching water in a sieve. 11 billion plus in ten years with him as finance minister and he is raising taxes. This tells the story of an abject failure.
Another tax hike in ar arwe nenen
Lord we cannot take no mo under GASTON.
Labourites: a country cannot run without tax,
Few years ago Labourites statements. Too much tax under UPP.
Now our government is in power let’s take whatever they give to us
TAX DEM AND SPEND LIKE DRUNKING SAILORS ON SHORE LEAVE.THAT IS THE MOTIVES OPERANDI IN THIS GASTON TAP DAWG,PRADACALS,ADMINISTRATION.
An ABLP “stealth” tax by any other name.
TIMES UP GASSSSSTON – TIMES UP!
And what about cost of living increase for pensioners and the release of monies owed to new mothers, who pay in their contributions. Matthias is an A…hole like the rest of them.
additional 2% on ABST now social security no raise in pay. hotel workers need an increase
By the time the General Elections come around, we will have forgotten; that is the trick.
An not even a raise on our pay 🤦🏾♂️ people wicked..no joke
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