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Social Insurance

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Social Insurance

QUESTIONS

Q. I am working in Gibraltar, what Social Insurance contributions do I have to pay?
Q. I am 60+ years old and continue to be in employment, how does this affect my Social Insurance position?
Q. I am no longer in employment (in between jobs or retired) - Should I continue to pay Social Insurance Contributions?
Q. Do I need to pay Social Insurance in my second job?

APPLICATION FORMS

QUESTIONS & ANSWERS

Q. I am working in Gibraltar, what Social Insurance contributions do I have to pay?

A. Social Insurance in Gibraltar is earnings-related.  All employees are required to pay Social Insurance of 10% of his/her salary, subject to a minimum of £5.50 and a maximum of £27.50 (per week) / a minimum of £23.83 and a maximum of £119.17 (per month). Your employer will also contribute to your Social Insurance at a rate of 20% of your salary, subject to a minimum of £16.50 and a maximum of £36.50 per week /a minimum of £71.50 and a maximum of £158.17 (per month).

If you are self-employed you will pay 20% of your earnings, subject to a minimum of £11 and a maximum of £33.50 (per week) / a minimum of £47.66 and a maximum £145.17 (per month).

Social Insurance Guidance Notes and Tables July 2012

Q. I am 60+ years old and continue to be in employment, how does this affect my Social Insurance position?

A. If you are an employee, your social insurance status will change from Earnings Related (ER) to Pensioner (PN). You will not pay any contributions as from your 60th Birthday, but your employer will continue to pay the employer contribution.

If you are self-employed, you will continue to pay contributions until you attain pensionable age. These are 60 years for women and 65 years for men.

Q. I am no longer in employment (in between jobs or retired) - Should I continue to pay Social Insurance Contributions?

A. It is not compulsory to continue paying Social Insurance contributions if you are not in insurable employment. However, in certain circumstances it might be beneficial to continue to pay Voluntary Contributions. You should contact the Contributions Section at the Income Tax Office for further advice.

Application Form – Voluntary Contributions

Q. Do I need to pay Social Insurance in my second job?

A. If you are paying Social Insurance in your main employment at the full rate, both your employers and employee contributions are exempt in your second job. You will however need to apply for this exemption be effected.

Social Insurance exemption
 

For any enquiries please contact us on Tel 200 52737 or email us at taxcontributions@gibraltar.gov.gi