We would like to inform you that, starting from January 2024 the maximum amount of insurable earnings that social insurance contributions are paid on will increase.

Specifically, starting from January 1^st 2024, the insurable earnings maximum limit will increase to €1,209 from €1.155 on a weekly basis that used to apply for 2023, while for monthly earnings the limit is set at €5.239 from €5.005. 

An increase is also applicable on an annual basis, with the threshold increasing to €62.868 for 2024 compared to €60.060 for 2023.

Finally, the Social Insurance contribution rate will increase from 8.3% to 8.8%.