Published by: P. Constantinou & Co. Ltd
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.
Social Insurance Contributions rates
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 CATEGORIES | March 2019 | March 2020 | |
| Phase Α΄ | Phase Β΄ | ||
| Employees | 1,70% | 2,65% | |
| Pensioners | 1,70% | 2,65% | |
| Other income (incl. rent, interest, dividends) | 1,70% | 2,65% | |
| Person holding an office | 1,70% | 2,65% | |
| Self Employed | 2,55% | 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. | |||
