Guernsey has published the Social Insurance (Rates of Contributions and Benefits, etc.) Ordinance 2022, which provides for the implementation of the contributory benefits and contribution rates for 2023. The ordinance provides that the standard Class 1 contribution rates are set at 6.8% for employers and 7.0% for employees, which is up from 6.7% for employers and 6.8% for employees in 2022. Further, the upper and lower earnings limits are adjusted as follows:
- Upper earnings limit:
- weekly - …