ECONOMY

Professionals to choose their own contributions

professionals-to-choose-their-own-contributions

The new social security contribution system will turn the pension amount that freelance and self-employed professionals receive into a personal affair, according to the blueprint approved by the cabinet last Wednesday.

For instance, a worker who does not earn a fixed salary and chooses the first social security category with a low number of years of insured work will get a low monthly pension, around 440 euros. In contrast, over 35 years of insured work (over 35) will take a worker into a high social security category, with a potential pension of up to 1,454 euros per month, securing them a comfortable living standard.

Each December, self-employed and freelance workers will be able to select the level of contributions they want for the next year from six categories, regardless of the amount of income declared. The lowest contribution will be 210 euros per month and the highest 566 euros. Their choice will affect the level of their future pension.

There will also be a more favorable status for all professionals for their first five years of insurance, with a monthly contribution of 126 euros and a fixed amount of 60 euros per month in healthcare contributions.