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National Insurance Scheme
National Insurance Scheme

The National Insurance Scheme extends Social Insurance Coverage on a compulsory basis, to all persons between the ages of sixteen (16) and sixty- (60) years who are engaged in Insurable Employment. Coverage is also extended on a voluntary basis, to persons who cease such employment before reaching age sixty- (60) years, until the attainment thereof. Employed Persons outside this age range who are in Insurable Employment are also covered, but for Industrial Benefits only. However, Self-employed Contributors are not covered for Industrial Benefits.


Both the Employer and Employee pay Contributions into the Scheme based on a 'Payroll System'. The total Contribution for Employed Contributors is 14% of the actual Wage / Salary paid to the Employee. This is derived from a 5.6% deduction from the Employee’s pay, and the remaining 8.4% paid by the Employer on behalf of the Employee. The actual wage / salary is, at present, subjected to a ceiling of $280,000.00 per month or $64,615.00 per week for National Insurance purposes.


Self-employed Persons contribute 12.5% of their declared Income as Contributions, while Voluntary Contributors pay 9.3% of their Insurable Earnings as determined from the last two years of their employment.


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