Guernsey: Social Security contribution rates for 2009 – Proposed change to upper earnings limitSunday, September 14th, 2008
The revisions to the upper earnings limits in 2007 and 2008 and the 1% increase in the employers’ contribution rate in 2008, with compensatory reductions in the States grants, has produced an annual saving to general revenue of at least £26m per year.
Social Security are recommending that the upper earnings caps for contributions should increase by 6.5%. If approved, the upper earnings limit for employees will go up from £64,896 to £69,108 per year and the upper earnings limit for employers will increase from £108,108 to £115,128 per year.
Social Security are not recommending any changes to the percentage contribution rates for 2009.
Benefit and contribution rates for 2009
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