Self-employed Contributions Schedule
Self-employed Contributions Schedule
Self-employed Contributions Schedule
Quarter 1
January, February, March. Due by: 15th April of the same year.
Quarter 2
April, May, June. Due by: 15th July of the same year.
Quarter 3
July, August, September. Due by: 15th October of the same year.
Quarter 4
October, November, December. Due by: 15th January of the next year.
Rate
17.1%
Insurable Earnings
Contributions and levies are payable on insurable earnings at a minimum of $21 to a maximum of $1,126 per week and on a minimum of $91 to a maximum of $4,880 per month for persons ages 16 to 67.
Contributions and Levies
% | |
|---|---|
Total | 17.10 |
National Insurance | 13.50 |
Non-Contributory | 2.00 |
Training Fund | 0.50 |
Catastrophe Fund | 0.50 |
Health Service Contribution | 1.00 |
Please note that a self-employed person over the standard pensionable age of 67 is only required to pay the training fund of 0.5% and the catastrophe fund of 0.1%.
Self-employed Contributions Payable on Insurable Earnings
Example using the minimum insurable earnings of $91 per month at the rate of 17.1%.
For Quarter 1, that person would pay $15.56 X 3 months = $46.68 due by April 15.
Example using the maximum insurable earnings of $4,880 per month at the rate of 17.1%.
For Quarter 1, that person would pay $834.48 X 3 months = $2,503.44 due by April 15.
NIS Benefits
Self-employed persons who pay contributions are provided with coverage for the following benefits:
- Sickness benefit
- Maternity benefit
- Invalidity pension or grant
- Old-age Contributory pension or grant
- Funeral grant
- Survivors’ pension or grant
Please note to pay contributions by the deadline to avoid interest.