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Contribution Rates

Contribution Rates

NATIONAL INSURANCE AND SOCIAL SECURITY ACT

Contribution Rates and Levies Payable

Since 1st January 2003, the National Insurance contribution rate was increased by 1% per year for four years. This rate will be shared equally between the employer and the employee. As a result, this shift will bring about an increase in contributions payable by Government permanent and temporary employees, Private Sector employees, Apprentices, self-employed persons, Voluntary contributors and staff of diplomatic missions or consulates of Barbados.

The Prime Minister in his Economic and Financial Statement in January 2006 established a Catastrophe Fund to which workers are required to contribute 0.1% of insurable earnings.

Please note that the new rates took effect from 1st April 2006 for monthly paid employees and 3rd April 2006 for weekly paid employees.

The Prime Minister in her Budgetary Proposal and Financial Statement in June 2018 introduced a Health Service Contribution at a rate of 2.5%, to which employers are required to contribute 1.5% of insurable earnings and 1.0% by employees and self-employed persons. The new rates took effect from 1st October 2018. Changes to the unemployment and training levy came into effect on 1st January 2019.  Additional changes to these levies came into effect from 1st January 2021.

The new rates of National Insurance Contributions and other collections of the National Insurance Office will be as follows:

Government Permanent Employees – “P”

Funds and LeviesEmployee %Employer %Total%
Total9.8010.9520.75
National Insurance 6.206.2012.40
Non-Contributory 2.002.004.00
Employment Injury0.000.750.75
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10
Health Service Contribution1.001.502.50

Government Temporary Employees – “T”

Funds and LeviesEmployee %Employer %Total%
Total11.1012.2523.35
National Insurance 6.756.7513.50
Non-Contributory 2.002.004.00
Unemployment 0.750.751.50
Employment Injury0.000.750.75
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10
Health Service Contribution1.001.502.50

Government Over Pensionable Age or Under 16 – “I”

Funds and LeviesEmployee %Employer %Total%
Total0.601.251.85
Employment Injury0.000.750.75
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10

State-owned Enterprises / Statutory Corporation

Funds and LeviesEmployee %Employer %Total%
Total11.1012.7523.85
National Insurance 6.756.7513.50
Non-Contributory 2.002.004.00
Unemployment 0.750.751.50
Employment Injury0.000.750.75
Severance0.000.500.50
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10
Health Service Contribution1.001.502.50

Private Sector Employees – “R”

Funds and LeviesEmployee %Employer %Total%
Total11.1012.7523.85
National Insurance 6.756.7513.50
Non-Contributory 2.002.004.00
Unemployment 0.750.751.50
Employment Injury0.000.750.75
Severance0.000.500.50
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10
Health Service Contribution1.001.502.50

Apprentices – “A”

Funds and LeviesEmployee %Employer %Total%
Total11.1012.2523.35
National Insurance 6.756.7513.50
Non-Contributory 2.002.004.00
Unemployment 0.750.751.50
Employment Injury0.000.750.75
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10
Health Service Contribution1.001.502.50

Private Sector Employees Pensionable Age or Under 16 – “E” Private

Funds and LeviesEmployee %Employer %Total%
Total0.601.251.85
Employment Injury0.000.750.75
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10

Self-employed – “S”

Funds and Levies2006 JAN to MAR
Total17.10
National Insurance13.50
Non-Contributory2.00
Training Levy 0.50
Catastrophe Fund0.10
Health Service Contribution1.00

Self-employed – “S”

Funds and Levies2006 JAN to MARApril 2006 to Sep. 2018Oct. 2018 to Present
Total16.0016.1017.10
National Insurance13.5013.5013.50
Non-Contributory2.002.002.00
Training Levy 0.500.500.50
Catastrophe Fund0.000.100.10
Health Service Contribution0.000.101.00

Voluntary Contributors – “Z”

Funds and Levies200420052006 to Present
Total8.309.3010.30
National Insurance6.307.308.30
Non-Contributory2.002.002.00

Foreign Embassies – “B”

Funds and LeviesEmployee %Employer %Total%
Total11.1012.7523.85
National Insurance 6.756.7513.50
Non-Contributory 2.002.004.00
Unemployment 0.750.751.50
Employment Injury0.000.750.75
Severance0.000.500.50
Training Levy0.500.501.00
Catastrophe Fund0.100.000.10
Health Service Contribution1.001.502.50

Foreign Service Help – “V”

Funds and LeviesEmployee %Employer %Total%
Total7.937.9315.86
National Insurance 5.935.9311.86
Catastrophe Fund2.002.004.00

National Insurance (NIS) Insurable Earnings Ceilings

Year(s)Weekly Ceiling ($)Monthly Ceiling ($)
1967 to 1973 50.00N/A
1974 to 1977100.00 N/A
1978 to 1981 230.001000.00
Jan. 1982 to May 1984506.002200.00
June 1984 to Dec. 1986598.00 2600.00
Jan. 1987 to Sept. 1991600.00 2600.00
Oct. 1991 to Dec. 2004715.003000.00
2005 736.00 3190.00
2006 759.00 3290.00
2007 782.00 3390.00
2008 819.00 3550.00
2009 858.00 3720.00
2010 900.00 3900.00
2011 944.00 4090.00
2012 965.00 4180.00
2013 985.00 4270.00
2014 to 2016 1060.00 4360.00
2017 to 2018 1073.00 4650.00
2019 1112.00 4820.00
2020 to 2022 1126.00 4880.00
2023 1182.005120.00
 EMPLOYED PERSONS SCHEDULE OF CONTRIBUTIONS PAYABLE ON INSURABLE EARNINGS
SCHEDULE OF CONTRIBUTIONS PAYABLE ON INSURABLE EARNINGS
Insurable Earnings ($)
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
9.00
10.00
11.00
12.00
13.00
14.00
15.00
16.00
17.00
18.00
19.00
20.00
21.00
22.00
23.00
24.00
25.00
26.00
27.00
28.00
29.00
30.00
31.00
32.00
33.00
34.00
35.00
36.00
37.00
38.00
39.00
40.00
41.00
42.00
43.00
44.00
45.00
46.00
47.00
48.00
49.00
50.00
51.00
52.00
53.00
54.00
55.00
56.00
57.00
58.00
59.00
60.00
61.00
62.00
63.00
64.00
65.00
66.00
67.00
68.00
69.00
70.00
71.00
72.00
73.00
74.00
75.00
76.00
77.00
78.00
79.00
80.00
81.00
82.00
83.00
84.00
85.00
86.00
87.00
88.00
89.00
90.00
91.00
92.00
93.00
94.00
95.00
96.00
97.00
98.00
99.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
715.00
736.00
759.00
800.00
900.00
1,000.00
1,112.00
2,000.00
2,500.00
3,000.00
3,100.00
3,190.00
3,290.00
3,550.00
3,720.00
3,900.00
4,090.00
4,180.00
4,270.00
4,360.00
4,650.00
4,820.00
Employees

Employees

Unemployed

Unemployed

Employers

Employers

Self-Employed

Self- employed

Pensioner

Contribution Rates

Contribution

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