Media Release – Increase in Social Security Contribution Rates

St. John’s, Antigua, Thursday 28th, December 2023 – To ensure our financial commitment to our beneficiaries and the continuous improvement of contributors’ funds, the Antigua and Barbuda Social Security Board (ABSSB) is reminding the public of the Social Security (Collections of Contributions) (Amendment) (Regulations) Statutory Instrument No. 60 of 2016, that effective January 1st, 2024, the contribution rates will increase by ½% or 0.5%.

The contribution rates for 2024, will therefore be 14½% for the public sector; and 15½% for the private sector, while the Self-Employed rate remains at 10%.

The decision to increase the contribution rates was based on recommendations by the 10th and 11th Actuarial Reviews.

The following Table shows the breakdown of the contribution rates: