Get to Know BOSS

The Barbados Optional Savings Scheme (BOSS) is a four-year bond that offers an interest rate of 5 percent per annum, with the interest being paid in two half-yearly instalments. That interest is not subject to withholding tax, and bondholders can also opt to cash in their bonds after 24 months, rather than wait the full four years.

You might have heard about BOSS being for people who work in the public sector and thought that meant it doesn’t apply to you, but BOSS is for everyone.

While public sector workers will be the main holders of BOSS bonds, there are three (3) ways other Barbadians can purchase them: from a public servant, a broker, and the Central Bank.

Because BOSS is an optional programme, public workers can decide to reduce the percentage of their salary they receive in bonds, or they can opt out completely. When this happens, the amount that has not been allocated will be sold to the broader public.

You can also buy BOSS bonds directly from public sector workers and purchase them on the stock exchange. Read more about how you can get BOSS bonds here.


Copyright 2020 by Central Bank of Barbados