INCREASE IN EARNINGS CEILING AND BENEFITS

The National Insurance and Social Security Service (NISSS) would like to advise employers, employees and self-employed persons of the following increases to its Insurable Earnings Ceiling and Benefits. All changes took effect on 1st January 2024.

Insurable Earnings Ceiling

Effective, the maximum insurable earnings are:

Monthly paid workers                                 

$5,200               

Weekly paid workers

$1,201

Benefits

Old Age Contributory Pension

Minimum old age contributory pension has been increased to $254 per week.   

Grants

Funeral grant: $2,220

Maternity grant: $1,280 

Contribution Rates

The contribution rates remain unchanged.

For further information, please visit our website at: https://www.nis.gov.bb/contribution-rates/.

The NISSS thanks you for your cooperation.