CAFAT (30.07.2020) The payment dates for contributions due by employers forced to reduce or suspend their activities due to the health emergency measures adopted on March 23, 2020 are as follows: The payment of social contributions for the 1st calendar quarter of 2020 (due April 30, 2020) is postponed to September 30, 2020. The payment of social contributions for the 2nd calendar quarter of 2020 (due July 31, 2020) is postponed to October 30, 2020.

Ministry of finance (17.07.2020) Starting this July, the National Treasury of the Ministry of Finance will apply to pensions higher than ¢ 2,296,000 corresponding to the National Pension Directorate, Pension Board of the National Teaching Staff and the Ex-Presidents Regime, the deduction for special solidarity and redistributive contribution, established by Law No. 9796 (“Law to Redesign and Redistribute the Resources of the Special Solidarity Contribution”).   

loopnewsbarbados.com (21.03.2020) For those employers who are prepared to retain three-quarters of their workforce even if some are on short-week, they can defer the employers’ contribution for three months in the first instance with a preparation to extend for another three months if the crisis goes beyond.

Social Security Board (21.07.2020) Effectively immediately, SSB has extended the deadline for all contribution payments for the months of March and April 2020.

Employers are required to submit their monthly Contribution statement for these months via our online portal. Self-employed persons can submit their monthly contributions certificate electronically to info@socialsecurity.org.bz.

Employers and self-employed persons can opt to make monthly instalments not exceeding six months with no penalties.

The first payment for March and April is due by 31 July 2020.

Ministry of Labor, Social Affairs and Family (16.07.2020) Waiving the payment of social insurance premiums for April 2020 applies to employers and compulsorily insured self-employed persons (SZČO) who in April 2020 had at least one closed operation for at least 15 calendar days. This applies to employers only in the part of the premium paid by the employer. The waiver of the premium, which is deducted from the employee by the employer and he is also obliged to pay it, the waiver of the obligation to pay the premium does not apply.

Ministry of Labor, Social Affairs and Family (16.07.2020) In order to mitigate the economic impact on premium payers during the COVID-19 crisis, an amendment to the Social Insurance Act was adopted, introducing a deferral of social insurance premiums, including compulsory contributions to old-age pension savings.