A Contribution
A contribution refers to Social Security payment due for one-week's earnings.  A Social Security contribution week is from Monday to Sunday.

Rate of Contribution
The weekly contribution is related to the weekly insurable earnings, which, in turn, are related to actual earnings.  For the convenience of employers who pay wages on a weekly basis, the first column in the Schedule of Contributions (below) shows that. In the case of a worker whose weekly earnings are under $70.00, the weekly insurable earning is $55.00.  The weekly contribution rates payable by the insured contributor and the employer are $0.83 and $3.57 respectively.

SOCIAL SECURITY
SCHEDULE OF CONTRIBUTIONS

WEEKLY CONTRIBUTIONS PAYABLE BY EMPLOYED PERSONS AND EMPLOYERS

     
AMOUNT OF WEEKLY CONTRIBUTIONS
RATE OF CONTRIBUTION
 
ACTUAL WEEKLY EARNINGS
WEEKLY INSURABLE EARNINGS
Employer
Employed Person
Total Contribution
Employer
Employee
1 Under 70.00
55.00
3.57
0.83
4.40
6.50%
1.50%
2 70.00 to 109.99
90.00
5.85
1.35
7.20
6.50%
1.50%
3 110.00 to 139.99
130.00
8.45
1.95
10.40
6.50%
1.50%
4 140.00 to 179.99
160.00
9.65
3.15
12.80
6.03%
1.97%
5 180.00 to 219.99
200.00
11.25
4.75
16.00
5.63%
2.38%
6 220.00 to 259.99
240.00
12.85
6.35
19.20
5.35%
2.65%
7 260.00 to 299.99
280.00
14.45
7.95
22.40
5.16%
2.84%
8 300.00 and over
320.00
16.05
9.55
25.60
5.02%
2.98%
9 **
 
2.60
0.00
2.60
 
 

**(a) APPLIES TO EMPLOYED PERSONS (60 - 64 YRS) WHO HAVE RECEIVED           A RETIREMENT BENEFIT AND
    (b) ALL EMPLOYED PERSONS 65 YRS AND OLDER

Contributions, 60 years or older
A contribution is payable by the employer only for employees who are 60 - 64 years old and have received or are receiving Social Security Retirement Benefit.  Also, your employer should NOT deduct Social Security Contributions from your salary IF you are 65 years or older.  Employers are legally responsible to pay only $2.60 on your behalf.  Your employer's Social Security contribution provides YOU coverage for Employment Injury Benefits, which include work-related prescribed diseases.

** The contribution of $2.60 paid by the employer for employees who have received Retirement Benefit provides only employment injury coverage for these employees. There is no deduction from the earnings of workers in this category, for this purpose.

Meaning of "Earnings"
Under the Social Security (Collection of Contributions) Regulations, 1980, the word "earnings" means gross earnings including:

    1. Overtime payments;
    2. Cost of living bonus;
    3. Allowances or payment in respect of dependents;
    4. Long service or efficiency payments;
    5. Commission on profits or sales;
    6. Gratuities;
    7. Production or incentive pay and service charges other than those paid once a year;
    8. Payments in respect of dirty or dangerous work;
    9. Payments in respect of shift or night work;
    10. Amounts deducted from earnings under any law or contract of service in respect of free meals provided by the employer;
    11. Any tax or other liabilities of the employed person paid by the employer on his or her behalf;
    12. Holiday pay or other amounts set aside out of the employed person's earnings to be paid to him/her periodically or as a lump sum.

Any problem concerning earnings is to be referred to the Social Security Board. The Board is empowered to give a final decision on such questions.

Deduction of Contribution
On behalf of his or her workers, the employer finances a part of the contribution, and a portion is paid from the workers' earnings.  The employer is required to give employees a pay slip showing the Social Security deduction being made from their salaries.

Remittance of Contribution
The total amount of contribution due in respect of all employees is to be paid at the Social Security Office. Contributions are to be paid no later than fourteen days after the end of the month for which the contributions are due.  When the 14th falls on a weekend or on a public and bank holiday, the deadline for payment is on the first working day following the 14th, after which a penalty fee is applied.

Monthly Contributions Statement
Employers are required to submit to the Social Security Board "Statement of Contributions Paid" FIN 15A FORM (Revised 2003) showing the contributions paid in respect of each person employed during the month.  Submit this statement with the contribution payments to the Board no later than the 14th of each month.

Complete information regarding the employees on the FIN 15A enables the Board to post all contributions paid on behalf of the employees for the relevant period; incomplete statements will not be accepted.

Accuracy of Contributions
Incomplete statements may cause delay or disallowing of benefit claims made by employees. The Social Security number of employees MUST be provided to enable employees to get their benefits without problems. Social Security has the right to inspect employers' records and premises to ensure that contributions are being made for all employees at the time and rate that they should be made.

Late Payment of Contributions
Interest will be charged for late payment, at $1.00 per employee per week (or part thereof).

Unpaid Contribution Payments
An employer who fails to pay contributions or to pay them within the prescribed time is guilty of an offense, and on conviction is liable to a fine of not less than $500.

Failure to pay contribution within the prescribed time also makes the employer liable to be surcharged on all late contributions at the rate of $1.00 per week or part of a week for each employee for the period that the contribution remains outstanding. Assessed contributions accrue interest of ten percent per annum.