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.
1998
| Category |
From |
To |
Weekly Rate |
Self Employed |
Self Occupied |
|---|
| SP* |
430 |
2,290 |
6 |
 |
 |
|---|
| * The SP rate applies only to single persons who are not self occupied. |
|---|
| SA |
390 |
2,898 |
7.65 |
|
|
|---|
| SB |
2,899 |
3,428 |
8.95 |
|
|
|---|
| SC |
3,429 |
3,958 |
10.25 |
|
|
|---|
| SD |
3,959 |
4,488 |
11.5 |
|
|
|---|
| SE |
4,489 |
5,228 |
13.3 |
|
|
|---|
| SF |
5,229 |
n/a |
15.65 |
|
|
|---|