The scheduled increase in Social Security contributions goes into effect on Monday, April 4th, translating to a rise from 9% to 10% and raising the insurable wage ceiling from $480 to $520. This upcoming change increases the maximum cash benefit of $416 weekly for short-term benefits and $312 weekly or $16,224 yearly for pensions. This is the final phase of the Contribution Reform and benefits increase. According to the Social Security Board (SSB), this approach is to improve and provide greater value to beneficiaries during time away from work if they become incapacitated or ill. The SSB believes this is essential for strengthening their program and providing sickness, maternity, disablement, invalidity, injury, death benefits, and pensions to contributors, families, and survivors.

Although the proposed increase in contributions is about to come into effect, it was not openly welcome initially. Some stakeholders participating in the consultations suggested the government raise the current $3.30 minimum wage instead. Many complained of the low salaries paid in specific jobs and questioned SSB's handling of the contribution payments. The SSB has justified their decisions stating that their expenditure has exceeded contributions, and if such deficit continues, their fund will become unsustainable.

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