The Social Security Board informs you of an important change to the Contributions Regulations.
Following the 12th Actuarial Review and Recommendations, the Social Security Board informs you of an important change to the Contributions Regulations, in line with Sections 18, 19, 20, 22, and 45 of the Social Security Act R.S.A. c. S45.
This change results from the Government of Anguilla taking measures to ensure the sustainability and effectiveness of the Social Security System (SSS).
Beginning January 1st, 2024, there will be a gradual increase in the contribution rates for both employees and employers from 10% to 12%. The new contribution rates will be introduced as follows:
- January 1st, 2024: Employee - 5.25%, Employer - 5.25%
- January 1st, 2025: Employee - 5.50%, Employer - 5.50%
- January 1st, 2026: Employee - 5.75%, Employer - 5.75%
- On or after January 1st, 2027: Employee - 6%, Employer - 6%
These contribution rate adjustments are necessary to address the changing economic landscape and ensure the Fund's long-term viability and that it remains financially sustainable and capable of providing essential support and benefits to its contributors in times of contingency.
Our table of revised contribution rates shows the amount you currently pay and the amount you will be required to pay each year until January 1, 2027, when the complete 12% (i.e. 6% employee and 6% employer) comes into effect. If you need help or have any questions about the amended contribution rates, please don't hesitate to contact the Social Security Office.
As a community, we can build a more robust and sustainable future for everyone. We would appreciate your understanding and support as we work towards ensuring the well-being and security of all contributors.
Let us join hands in securing a brighter future for Social Security in improving the quality of life for All.
We would like your views on the proposed increase. Please email us at info@ssbai.com.
