Per SI No. 184 of 2020, the Social Security Board hereby informs the general public that the Contribution Rate increase of 9% to 10% and the Wage Ceiling increase of $480 to $520 scheduled for January 2021 have been deferred. During yesterday's address, the Prime Minister Rt. Hon. John Bricerio announced the approval by Cabinet for a postponement on the final increase with consideration given to the current state of the economy as well as the potential negative effect on employment in the near future.
The Social Security Board remains committed to delivering a financially sustainable Social Security program that provides lifetime coverage to our beneficiaries. Stay connected with Social Security Board for updates and upcoming news by visiting our website or Facebook page.