REGISTRATION
It is mandatory that all persons between the ages of 15 and 65 years register with the Social Security Board immediately upon obtaining employment.
To register, simply fill ou tan Employee's Registration Form, which is available at the Social Security Board's office. The form must be submitted with proof of birth. (certificate of birth, passport, etc.)
Upon registration, you will be given your Social Security card.
There is no need to re-register each time you change jobs or did not work for a period of time.
Once registered, always registered
If you change your name due to marriages, or other reasons, you should notify the office and provide evidence of the change (marriage certificate, affidavit, etc.)
When you start a new job, it is important that you give your employer the correct Social Security number so that your contributions can be credited to your account.
CONTRIBUTIONS
The Social Security Board is financed by contributions payable by:
- Employers
- Employees
- Self Employed
- Voluntary Contributors
Rates of Contribution
Private Employees: 8 1/2 % of insurable earnings* - Employees contribute 4%; Employers contribute 4 1/2%
Civil Servants: 7 1/2% of insurable earnings* - Civil Servants contribute 3 1/2%; Government contribute 4%
(Civil servants are not covered for Sickness Benefit).
Self-Employed Persons: 8 1/2% of insurable earnings*
Voluntary Contributors: 7% of earnings established by the Board
(Voluntary Contributors are covered for Age, Invalidity, Funeral and Survivors Benefits only).
*(Insurable earning is the amount of income on which Social Security contributions are deducted).
NOTICE:
The Social Security (Contributions) (Amendment) Reguulations 2005, make it mandatory that the maximum insurable earnings (that is, the portion of salary from which contributions is deducted) be increased on a yearly basis by the Consumer Price Index (CPI).
While the CPI for the 12 month period is 7.03%, the maximum increase allowed by law is 5%; consequently, effective January 1, 2010, the maximum insurable earing will be increased from $33,800 to $35,490.00.
The following schedule is for ease of reference.
|
Pay Period
|
Maximum Insurable Earnings
|
Employee Contribution
|
Employer Contribution
|
Total
|
|
Weekly
|
$682.50
|
$27.30
|
$30.71
|
$58.01
|
|
Fortnightly
|
$1,365.00
|
$54.60
|
$61.43
|
$116.03
|
|
Semi Monthly
|
$1,478.75
|
$59.15
|
$66.54
|
$125.69
|
|
Four Weekly
|
$2,730.00
|
$109.20
|
$122.85
|
$232.05
|
|
Monthly
|
$2,957.50
|
$118.30
|
$133.09
|
$251.39
|
Working for more than one employer?
If you work for more than one employer, each employer must deduct and pay contributions on your behalf. If your combined contributions exceed the maximum contributions payable, you will receive a refund from the Social Security Board.
Notes:
- Payment of contributions is compulsory.
- It is the employer's responsibility for payment of the entire contribution
- Failure to pay contributions is an offense punishable by law.
If you need additional information, please contact the Contribution Department at 494-6833 or 494-3418 Extension 231.
2010 Contributions Booklet
Sample Remittance Form
Important Notes
|
