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Government announces deferral of increase in Social Security ceiling and contribution

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Posted: Wednesday, December 30, 2020. 6:16 pm CST.

By BBN Staff: Prime Minister John Briceno announced today that the increase of Social Security ceiling and contribution increase scheduled to go into effect on January 4th has been deferred.

Briceno said that the dual increase would have a detrimental impact on employment.

Briceno also informed that government does not plan to propose any new revenue measure but will present bills at the House of Representatives next week to commence their reform agenda.

This is in an effort to restore economic growth, according to the Prime Minister.

Briceno added that several proposals will be made and stakeholders will be consulted.

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