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St. Kitts Investment Promotion Agency (SKIPA)

Social Security

The St. Christopher & Nevis Social Security Board (SSB) was established in 1978 to provide payment of various benefits to insured persons in the event of loss of income due to retirement/old age, invalidity, maternity, sickness, injury on the job. Dependants are allowed survivor’s benefits and funeral grant on the death of the insured.  Social assistance by way of non-contributory pensions are paid to old aged or invalid persons who are in need.

Rates of Contribution for Social Security

Rates of Contribution for Social SecurityEmployerEmployed PersonTotal
Main Scheme:  Employed person 16 – 62 years of age5%5%10 % of wages
Employment Injury: person regardless of age1%NIL1% of wages
Severance Payment Fund1%NIL1% of wages

The ceiling on wages for Social Security Contributions is $6,500 per month. All wages above that amount must still be recorded, but Social Security Contributions must only be paid in keeping with amounts up to the ceiling. The maximum contribution on behalf of any single employee in any month is: $65.00 for an employee under 16 and or over 62 years; and $715 for an employee between the ages of 16 to 63 years. Employer pays 1% of wages for severance payment.

Housing and Social Development Levy

Monthly EarningsEmployerEmployed PersonTotal
Less than $1083.33 per month3%NIL3% of wages
Between $1083.33 to $6,500.003%3%6% of wages
Between $6,500.01 to $8,000.003%8%11% of wages
Equal to or greater than $8,000.013%10%13% of wages

Housing and Social Development Levy contributions are now payable on all wages, except in the cases where a person is earning less than $1,083.33 per month. These Exemptions do not apply to the employer’s portion of the Levy. The Employer’s portion must be paid. The portion of wages/salaries between $6,500.01 and $8,000.00 per month; will be subject to 8% levy. Wages/Salaries in excess of $8,000.00 per month will be subject to 10% on the portion above $8,000.00. The Employer’s contribution to the Levy remains at 3% of the total wages/salaries.

These Exemptions do not apply to the employer’s portion of the Levy. The Employer’s portion must be paid.

Overview

EmployerEmployee
Social Security Contribution5%5%
Housing and Social Development Levy3%NIL, 3%, 8% or 10%
Employment Injury1%NIL
Severance1%NIL
Total10%5%, 8%, 13% or 15%

For more information on Social Security please click here www.socialsecurity.kn