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[PIO] Announcement by the Social Security Services

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The Social Insurance Services announce that, in accordance with the Social Insurance Laws of 2010 to 2023, from January 2024 the following will apply:

(1) The insurable earnings ceiling will increase from the contribution month of January 2024 to €1,209 per week and €5,239 per month.

(2) The imputed income of self-employed persons on which social security contributions are calculated is increased by 4.73% from 1 January 2024.

(3) As regards the amount of Social Insurance Fund pensions, in accordance with the Legislation, the rate of increase calculated on both the basic and the supplementary part of pensions shall be offset by the 0.8% rate granted after 01.01.2023 in accordance with a relevant amendment to the Legislation. Therefore, Social Security pensions are increased from 01.01.2024:

(a) in the basic part by 3.89%. Therefore, the monthly amount of the full basic pension is increased to €483.77 per month and the minimum pension to €411.20 per month for beneficiaries without dependants.

(b) in the supplementary part by 1.68%.

(4) The amount of childbirth and funeral allowances from 01.01.2024 is fixed at €628.92 and €586.99 respectively.

[4] The amount of childbirth and funeral allowances from 01.01.2024 is fixed at €628.92 and €586.99 respectively.

Also, based on the Social Pension Granting Legislation, from 01.01.2024 the amount of the social pension is increased to €391.85 per month.

(NΓ/EATH)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO

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