How is Social security configured ? Social Security and Health tax are mandatory deductions from gross pay. In addition to the employee’s contribution there is also an employer’s contribution. They are configured at two rates: a lower rate for gross pay up to 60% of the average salary (currently 5,171 sh – July 2012). The …
Category Archives: Payroll
The Pension Test
If you want to retire with a “normal” amount of pension, you need to be sure you are utilizing to the maximum the options available to you. In order to do this you must first understand the makeup of pension plans, because you might very well be on your way of stepping into a mis …