Increased Social Insurance Contributions from 2024

As of 1st January 2024, the social insurance contribution rates for each employer and employee are increased by 0,5% and for self-employed individuals by 1%.

The below table summarizes the contribution rates that are applicable for the year 2024:

Self-employed individuals16,6
Employee’s contribution8,8
Employer’s contribution8,8
Employer’s contribution to the Redundancy Fund1,2
Employer’s contribution to the Human Resource Development Authority Fund0,5
Employer’s contribution to the Social Cohesion Fund2

Social Cohesion Fund

An employer is liable to pay a social cohesion fund contribution of 2% on the amount of the emoluments of his employees (without any restriction as to the amount of the emoluments).

Maximum limit of emoluments 
As of the beginning of 2024, the below maximum amount of emoluments is applicable for Social Insurance Contribution purposes for monthly employees becomes €5.239 monthly and €62.868 annually.

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