# How much % is the social security rate



## philly (Feb 5, 2010)

Anyone know how much social security is paid on salary here and what benefits does it give you ??

Somoen told my son it was 6% of your salary does anyone know if this is correct


Many thanks


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## kimonas (Jul 19, 2008)

philly said:


> Anyone know how much social security is paid on salary here and what benefits does it give you ??
> 
> Somoen told my son it was 6% of your salary does anyone know if this is correct
> 
> ...


Yes, it's 6.3% (matched by employer with a 4% contribution from the state giving a total of 16.6%). Self-employed pay 11.6% of income. The full details of rates, contributions and benefits can be found here:
Social Insurance Services - Home Page


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## Veronica (Apr 5, 2008)

The problem with self employed is that they calculate what you would be expected to earn based on the type of business and set an amount which you have to fight hard to get reduced if your earnings are not what they set them at.
They tend to over calculate self employed income.


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## kos (Mar 12, 2011)

Veronica said:


> The problem with self employed is that they calculate what you would be expected to earn based on the type of business and set an amount which you have to fight hard to get reduced if your earnings are not what they set them at.
> They tend to over calculate self employed income.


Veronica, do they start to calculate these "implied earnings" from day 1 that you start with the self-employed status? Or is there some start-up "grace period"?


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## Veronica (Apr 5, 2008)

kos said:


> Veronica, do they start to calculate these "implied earnings" from day 1 that you start with the self-employed status? Or is there some start-up "grace period"?


I don't know the answer to that as we leave all those things to our accountant to deal with. Much easier than trying to deal with Cypriot beaurocracy ourselves
However, although I won't swear to it I believe that it does start from day one, but I may be wrong.


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