| Contributions % |
2023 |
2022 |
| Employer | 8,3 | 8,3 |
| Employee | 8,3 | 8,3 |
The rate of Social insurance contributions is applied to a maximum level of emoluments. The maximum level of emoluments for 2023 is €60.060 (weekly €1.155/monthly €5.005) (for year 2022 the levels were €58.080, €1.117, €4.840, for year 2021 the levels were €57.408, €1.104, €4.784, for year 2020 the levels were €54.864, €1.055, €4.572, and for year 2019 the levels were €54.648, €1.051, €4.554 respectively).
The rate of 8,3% applies for both the employer and the employee as from 1 January 2019 and for the next five years. Thereafter, the rate will increase every five years by 0,5% until it reaches 10,3% as from 1 January 2039.
Other employer's contributions
The employer makes the following other contributions based on employee's emoluments:
| % | |
| Social cohesion fund | 2,0* |
| Redundancy fund | 1,2** |
| Industrial training fund | 0,5** |
| Holiday fund (if not exempt) | 8,0** |
* Social cohesion fund is calculated on total emoluments and has no maximum level
** Restricted to the maximum level of emoluments as with the social insurance contributions
As from 1 January 2019 the contributions of self-employed persons are 15,6% of their income (14,6% for 2014-2018). Thereafter, the rate will increase by 1% every five years until it reaches 19,6% as from 1 January 2039. The amount of the contributions is subject to a lower and a maximum limit, depending on the profession or trade of the Self-Employed Person. These limits are set on an annual basis.
To read this Report in full, please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
