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CY Social Insurance Fund – Rate Changes 1st of January 2014

Constantinos Philippides
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The Social Insurances of Cyprus informed the public that on January 1, 2014 the contribution rate to the Social Insurance for employers, employees, self-employed and voluntary contributors differs as follows:

For the employed 20.2 % of which 7.8 % paid by the employee, 7.8 % by the employer and 4.6 % from the Consolidated Fund of the Republic.

For employees covered by an occupational pension plan without the employee contributed to this 20.2 %, of which 3.95 is paid by the employee, 11.65 % by the employer and 4.6 % from the Consolidated Fund of the Republic.

For the self-employed 19.2 %, of which 14.6 % is paid by the same 4.6 % from the Consolidated Fund of the Republic.

For voluntary insured domestic 17.1 %, of which 13% is paid by the same insured and 4.1 % from the Consolidated Fund of the Republic.

For voluntary insured abroad 20.2 %, of which 15.6 % is paid by the same insured and 4.6 % from the Consolidated Fund of the Republic.

Please note that the above rates apply to contributions years 2014 to 2018.

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