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Class 2 Social Security Contributions

​​Class Two Contributions are to be paid by all individuals who derive income of more than Lm390 from an economic activity and who are not employed.

The Social Security Act defines two categories of persons that are required to pay Class 2 Contributions as follows:

Self Occupied Persons - persons who earn income from Trade, Business, Profession, Vocation or any other economic activity that exceeds Lm390 per annum.

Self Employed Persons - persons who receive income from rents, investments, capital gains or any other income.

Rates for Class Two Social Security Contributions are based on the annual net profit or income for the year preceding the contribution payment year.

 

1999 

 
 
                   Annual Net Income Lm                                                                        Applies To
Category From To Weekly Rate Self Employed Self Occupied
SP* 430 2,381 6.23 tick.png cross.png
* The SP rate applies only to single persons who are not self occupied.
SA 390 2,989 7.94 tick.png tick.png
SB 2,990 3,519 9.24 tick.png tick.png
SC 3,520 4,049 10.54 tick.png tick.png
SD 4,050 4,579 11.79 tick.png tick.png
SE 4,580 5,319 13.59 tick.png tick.png
SF 5,320 n/a 15.94 tick.png tick.png
 

Social Security Contributions

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Class 2 Rates: