Social Insurance and National Health Service contribution rates for 2019

Social Insurance and National Health Service contribution rates for 2019

Published by: P. Constantinou & Co. Ltd

Social Insurance Contributions rates

As from 1/1/2019 the social insurance rates for both employees and employers has increased by 0.5% on the insurable earnings of the employee. Therefore the rates for social insurance contributions as from 1/1/2019 are 8.3% (increased from 7.8%) for both employees and employers. The maximum amount of insurable earnings has been revised upwards from the previous year to €1.051 per week, €4.554 per month and €54.648 per annum.

For self-employed individuals the contributions have increased from 14.6% to 15.6%.

National Health Service (NHS) rates

As from 1/3/2019 the first phase of the NHS will be implemented. The rates for NHS fund will be as follows:

 

CONTRIBUTORS CATEGORIESMarch 2019March 2020 
 Phase Α΄Phase Β΄ 
    
Employees1,70%2,65% 
Pensioners1,70%2,65% 
Other income (incl. rent, interest, dividends)1,70%2,65% 
Person holding an office1,70%2,65% 
Self Employed2,55%4,00% 
Employers (for employees)1,85%2,90% 
State (for employees, pensioners, government officials, self-employed)1,65%4,70% 
    
For the calculation of the contribution per natural person there is a limit of €180.000 on the income.



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