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.

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FAX: +357 24 201 601

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