(LINA) – The National Social Security and Welfare Corporation (NASSCORP) says as of July 1 this year there will be two percent increment in contribution payment for every registered public or private sector employee.
Making the disclosure Wednesday in Tubmanburg, Bomi County, NASSCORP Assistant Director General for Public Information and Education, Mr. Winston Jah, said the action of comes after the passage of the Act to repeal Decree No. 14 of the People’s Redemption Council creating a new Chapter 89 of the Executive Law to establish NASSCORP.
He was speaking at a one-day interactive forum with cross-section of citizens from Bomi, Grand Cape Mount and Gbarpolu Counties along with employees of various concession and government ministries and agencies.
According to Mr. Jah, the first contribution rate was eight percent across the board for every registered employee in both the public and private sectors.
He disclosed that the new increment of two percent of the contribution rate will take full effect on the three branches of government.
He said before the repealed contribution rate was done, some government officials were not included to contribute to NASSCORP.
Mr. Jah said the two percent added to the initial eight percent will bring to ten percent the NASSCORP monthly contribution payment for public and private sector employees.