A total of \u00a3403m was paid into the social security scheme in Jersey last year, according to a new report.<\/p>\n
The Policy Centre has published a detailed report looking at Jersey’s social security system, the first study since 2017.<\/p>\n
Of the \u00a3403m figure, 40% was paid in by employers, 34% by employees, 6% by the self-employed and 19% from taxation.<\/p>\n
The report also highlighted benefits of \u00a3387m were paid in 2024, of which pension payments accounted for \u00a3255m.<\/p>\n
In 2024, the Health Insurance Fund paid benefits of \u00a352m, including 2.2m worth of prescriptions at a cost of \u00a319m, plus dispensing fees of \u00a39m.<\/p>\n
However, Jersey’s contribution rates were significantly below those of the UK, where the basic rate for employees was 8% – with an additional 2% for those on higher incomes.<\/p>\n
The Policy Centre’s senior adviser, Sir Mark Boleat said: “Jersey has a comprehensive social security system which provides a wide range of benefits at a lower cost than the UK system. <\/p>\n
“But how the system works has been opaque.”<\/p>\n","protected":false},"excerpt":{"rendered":"A total of \u00a3403m was paid into the social security scheme in Jersey last year, according to a…\n","protected":false},"author":2,"featured_media":118834,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,184,185],"class_list":{"0":"post-118833","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/118833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=118833"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/118833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/118834"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=118833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=118833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=118833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}