Residents are paying more for Social Security. The increase by half percent took effect on Sunday.

This means that the contribution rates for the year going forward will be 14 percent for the public sector and 15 for the private sector, while the self-employed rate remains at 10 percent.

Also, the pensionable age will increase to 64, in accordance with social security regulations.

A statement from the Antigua and Barbuda Social Security Board (ABSSB) says the change is to ensure that it continues to honour its financial commitments to all beneficiaries and enhance the contributor fund.