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23 / 11 / 11 - Social Security Contributions To Rise

Social Security Contributions will rise next year in line with the pension reform announced in 2007, Finance Minister Tonio Fenech said in parliament.

Mr Fenech said the contribution will rise in line with the cost of living wage increase. Those aged under 50 will also see an increase in terms of the pensions’ reform which was launched in 2007.

Employees whose salary exceeds €378.50 per week will see their contribution rise by €2.46 per week while the Self-Employed whose net profit exceeds €19,682 per year will see their contribution rise by €3.70 per week.