Guernsey: Social Security Benefits and Contribution Rates – Benefits to increase in 2010 but not contributions

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Pensions and other contributory benefits will go up by 2% from January if the States of Guernsey approve Social Security’s proposals at the September States meeting.

Following States approval of Social Security’s proposals concerning the future financing of the contributory social security schemes, the upper earnings and income limits for employed people, self-employed people and non-employed people will be increased over a period of 5 years starting from 1 January 2010 to match the upper earnings limit for employers. For the first year, from January 2010, Social Security are recommending an upper earnings limit of £79,872 per year. The upper earnings limit for employers will increase by 2.0%, from £115,128 per year to £117,468 per year.

However, Social Security are not recommending any changes to the percentage contribution rates for employed or self-employed people for 2010.

Further information:

Benefit and contribution rates for 2010

This entry was posted on Wednesday, October 28th, 2009 at 13:58 and is filed under Guernsey. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.