Experiences in Social Protection and Formalization Persons between - - PDF document

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Oct 03, 2023 476 likes •570 views

Experiences in Social Protection and Formalization Persons between the age of 16 and pensionable age Includes employees, self-employed and voluntary contributors Beneficiaries (dependents) of the aforementioned groups Year of birth

SLIDE 1

Experiences in Social Protection and Formalization

Persons between the age of 16 and pensionable

age

Includes employees, self-employed and voluntary

contributors

Beneficiaries (dependents) of the aforementioned

groups

SLIDE 2

Year of birth Year of birth Year of birth Year of birth Pensionable age Pensionable age Pensionable age Pensionable age

1955 and before 60 1956-1957 61 1958-1959 62 1960-961 63 1962-1963 64 1964 and after 65

Covered persons Covered persons Covered persons Covered persons 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016

(Prelim) (Prelim) (Prelim) (Prelim)

Employees 33,412 33,225 32,494 Self- Employed 877 944 959 Voluntary contributors 200 193 180 Pensioners 6,394 6,793 6,868 Total Total Total Total 40,883 40,883 40,883 40,883 41,155 41,155 41,155 41,155 40,501 40,501 40,501 40,501

SLIDE 3

Employee 4.5% Employer 5.5% Total 10.0% Employee 4.29% Employer 5.25% Total 9.54%

Regular employees Pensionable Government workers

Self employed 9.5%

Voluntary contributors 8.84%

Covered persons Covered persons Covered persons Covered persons Maximum ( EC$) Maximum ( EC$) Maximum ( EC$) Maximum ( EC$) Maximum (US$) Maximum (US$) Maximum (US$) Maximum (US$)

Employees 4333.00 1622.85 Self-employed 4333.00 1622.85 Voluntary contributors 4333.00 1622.85

SLIDE 4

Category

Category Category Category Weekly Weekly Weekly Weekly income income income income ($) ($) ($) ($) Weekly Weekly Weekly Weekly contribution contribution contribution contribution ($) ($) ($) ($) Monthly Monthly Monthly Monthly income income income income ($) ($) ($) ($) Monthly Monthly Monthly Monthly contribution contribution contribution contribution ($) ($) ($) ($) A 1000.00 95.00 4,333.00 411.64 B 840.00 79.80 3,640.00 345.80 C 720.00 68.40 3,120.00 296.40 D 600.00 57.00 2,600.00 247.00 E 480.00 45.60 2,080.00 197.60 F 360.00 34.20 1,560.00 148.20 G 240.00 22.80 1,040.00 98.80 H 120.00 11.40 520.00 49.40 Special 91.00 8.65 Category Category Category Category Monthly Monthly Monthly Monthly income income income income ($) ($) ($) ($) Quarterly Quarterly Quarterly Quarterly income income income income ($) ($) ($) ($) Monthly Monthly Monthly Monthly contribution contribution contribution contribution ($) ($) ($) ($) Quarterly Quarterly Quarterly Quarterly contribution contribution contribution contribution ($) ($) ($) ($) A 3,716.64 11,149.92 328.55 985.65 B 2,563.20 7,689.60 226.59 679.76 C 2,050.56 6,151.68 181.27 543.80 D 1,537.92 4,613.76 135.95 407.86 E 1,027.95 3,083.85 90.87 272.61 Special 400.50 1204.50 35.40 106.21

SLIDE 5

Managers Professionals Technicians and Associate

Professionals

Clerical Support Workers Services and Sales Workers Skilled agricultural, forestry

& fishery workers

Craft and Related Trades

Workers

Plant and Machine Operators

and Assemblers

Elementary Occupations Armed Forces Occupations

Persons in the informal sector-primarily the self-employed

Not mandatory- not legislated Contributions

collected based

income category selected by the self employed person

Once

qualified, all benefits, except Employment Injury, are payable

SLIDE 6

None

NIS on wheels Face to face interaction Survey Strategic linkages with key stakeholders..Fisheries,

Farmers’ Association, Minibus Association

Targeted education programmes

SLIDE 7