Each year, the provincial government sets a limit on how much one can afford and still pays the tax. In 2013, anyone making $ 113,700.00 a year or more did not pay the Social Security tax. This figure changes annually based on inflation and income growth.
About 96 percent of people aged 20 to 49 working in Social Security-related activities by 2019 have received Social Security insurance coverage. For a young middle-income worker, spouse, and two children, that equates to a life insurance policy with a face value of more than $ 725,000 by 2018, according to Social Security actuaries. Approximately 89 percent of people aged 21-64 working in integrated employment in 2019 are guaranteed Social Security in the event of severe disability.