Guernsey Approves Ordinance on Social Security Contributions for 2020

Guernsey has approved the Social Insurance (Rates of Contributions and Benefits, etc.) Ordinance 2019, which generally comes into force on 1 January 2020. For both employer and employee contributions, the contribution rate for 2020 is maintained at 6.6%, while the upper weekly earnings limit for contributions is increased from GBP 2,814 to GBP 2,880 and the upper monthly earnings limit for contributions is increased from GBP 12,194 to GBP 12,480. Gross earnings above the prescribed limits ar…