Bermuda
Bermudian Dollar · BD$
Bermuda has no personal income tax, but employers must remit Payroll Tax on total payroll, contribute to the flat-rate Social Insurance scheme, provide mandatory pension contributions under the National Pension Scheme, and arrange mandatory health insurance for every employee.
Country Quick Facts
Financial Calculators
Calculate statutory deductions, contributions, and obligations for Bermuda.
Pension Contribution Calculator
Calculate mandatory pension contributions
Monthly Salary
BD$5,000.00
Mandatory National Pension Scheme (Occupational Pensions Act 1998): 5% employer + 5% employee, unless the employer elects to cover a larger share.
Employer Contribution
BD$250.00
5% of salary
Employee Contribution
BD$250.00
5% of salary
Total Contribution
BD$500.00
10% combined
*Note: This pension calculation is an estimate. For exact payroll and pension compliance calculations, please visit the official government website.
Country Overview
Key employment regulations and payroll requirements at a glance.
Minimum Wage
BD$17.13 / hour
Payroll Cycle
Bi-weekly or Monthly
Income Tax
Not applicable, Payroll Tax applies instead
Social Security
Flat BD$75.30/week (BD$37.65 employer + BD$37.65 employee), not a percentage of salary
Mandatory Pension
10% total (5% employer + 5% employee) under the National Pension Scheme
Health Insurance
Mandatory Standard Health Benefit; employer liable for 100%, may recover up to 50% from employee
Employment Contract
Written contract required
Payslip
Required
Government Filing
Monthly Payroll Tax and Social Insurance returns
Leave & Labour Compliance
Employment terms and leave entitlements for Bermuda.
Annual Leave
Bermuda statutory entitlement
10
days
Compliance Highlights
- Employees are entitled to at least 10 working days of annual leave.
- Paid sick leave is available after meeting eligibility requirements.
- Eligible employees receive 13 weeks of maternity leave, and 5 days of paternity leave.
- Employees are entitled to official public holidays observed in Bermuda.
- Probation periods are typically around 3 months.
- Notice periods vary according to the employee's length of service, with 1 week as a common minimum.
- Standard working hours are generally 40 hours per week, with overtime paid at 1.5x for hours beyond that.
- Employers remit Payroll Tax on total payroll (rates rise from 1.00% for small employers up to 9.5%–9.75% for large or exempted-undertaking employers), with a matching employee deduction on a progressive scale up to 12.5%, capped at BD$1,000,000 of annual remuneration per employee.
- Social Insurance is a fixed weekly contribution (BD$75.30 total) rather than a salary-based percentage, split evenly between employer and employee.
- A written employment agreement is required for every employee.
Government Registrations
Required registrations and regulatory authorities for Bermuda.
Employer Registration
Department of Workforce Development
Tax Authority
Bermuda Revenue Authority
Pension Authority
Pension Commission Bermuda
Insurance Authority
Bermuda Health Council
Labour Department
Department of Workforce Development
Submission Frequency
Monthly
Online Portal
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