Self-employed persons and employed persons pay different rates of Social Insurance as outlined below:
Self-employed:
The Contributions for self employed people are calculated as 11.6% of a pre‑determined “notional” income which varies depending upon profession or business activity. The lowest level of “notional income” is €229 (Farmers; and similar professions; refuse collectors; workers in quarries, marine workers people responsible for provision of services and salesmen). The highest level of notional income is €924
Employed persons
SI contributions for employees are 12.6% of salary (Employer pays 6.3% / Employee 6.3%). The maximum level of annual income on which social insurance contributions are paid on is €48,048.
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 8% (Restricted to the maximum level as stated above)
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