Suspension of payment of the increased contribution to GESY
The House of Representatives has approved on 27/3/2020 the Financial Support Program in response to the financial impact of the coronavirus and in particular the decision for non-payment of the increased contribution to GESY for a period of three months, i.e. April–June. In July, the rates will return to those announced in March 2020.
Please see below an explanatory table.
Contribution percentages
1/3/2020 -31/3/2020
1/4/2020 -30/6/2020
1/7/2020 onwards
Employees
2.65%
1.70%
2.65%
Employers
2.90%
1.85%
2.90%
Self-employed
4.00%
2.55%
4.00%
Pensioners
2.65%
1.70%
2.65%
Persons holding any office
2.65%
1.70%
2.65%
Republic or any physical or legal person responsible for the payment of emoluments to officer(s) from their appointment or election
2.90%
1.85%
2.90%
Incomers
2.65%
1.70%
2.65%
Fixed Fund (State)
4.70%
1.65%
4.70%
It is noted that for the period 1/3/2020 - 31/5/2020 reduced rates apply to pensions paid by Social Security Services and to contributions on salaries paid by businesses, employers, self-employed, pensioners and the State.
