Social security contributions in detail
Employers must notify the social security authorities upon hiring any new employee. Employees, in turn, must notify the social security authorities when they begin their first job and whenever they begin working for a new employer. Once enrolled with the social security authorities, employees are registered for life.
Social security contributions are 34.75% of the employee’s gross salary. Of this, 23.75% is payable by the employer and 11% is payable by the employee.
Lower rates are set for certain professionals, for example, domestic workers, workers on pre-retirement arrangements and disabled workers.
There are no mandatory pension funds or medical insurance, since social security contributions cover protection in old age and for illness or disability. However, some larger companies offer these as benefits.
Note: All currency conversions into EUR were made on 1 February 2019, using a mid-market rate.