Adjustments to Rates 2018

Effective 1st January, 2018, the below rates have been adjusted:

Increase In Insurable Earnings Ceiling:

  • Monthly: from $220,000 to $240,000 per month.
  • Weekly: from $50,769 per week to $55,385 per week.

Increase In All Pensions Above Minimum Pension:

All pensions that are above the minimum pension will be increased by $2%.

Increase in Minimum Pension:

The minimum rate for Old Age and Invalidity Pensions will be increased from $27,500 to $30,000 per month.

Increase in Funeral Benefit:

The amount for Funeral Grant will be increased from $40,398 to $44,438.

Employers are also reminded to download a fresh copy of the electronic schedule which has the updated insurable earnings ceilings.