If you are employed under an employer, you have to pay €6.62 to €54.43 per week (depending upon your weekly wage) as social security contributions (SSC). If you are self-employed or self-employed earning more than €910, you will have to pay €31.7 to €81.64 per week.
In Malta, social security contributions apply to the following categories:
Social security contributions are deducted as a percentage of gross salary and are paid weekly. The rates depend on your income and whether you are employed or self-employed.
Employees and employers in Malta contribute 10% each of the employee’s basic wage. This means that for every worker, the total contribution is 20% of the gross salary (10% from the employee and 10% from the employer).
However, there are minimum and maximum contribution limits set annually. For 2024:
If your monthly salary is €2,500, your SSC deduction will be:
Self-employed individuals contribute 15% of their annual net earnings (after business expenses) instead of the 10% rate for employees.
For example, if your net annual earnings are €30,000, your SSC contribution will be:
Self-employed persons must ensure they meet the minimum SSC requirements set by the Maltese government.
Your social security contributions go towards funding various social benefits, including:
Certain individuals may be eligible for reduced rates or exemptions, such as:
Social security contributions in Malta are an essential part of the financial system. They ensure access to healthcare, pensions, and other social benefits. Whether you are an employee or self-employed, understanding your contribution responsibility helps you plan your finances better.