Jan 12, 2024 1 min read

Malta revises social security and maternity fund contribution rates for 2024

Changes in social security contribution

Following the increase in the minimum wage to € 213.54 per week, Malta’s Commissioner for Revenue has published the social security and maternity fund contributions for 2024 tax year.

Class 1 categories and rates are mentioned below:

CategoryDescription
APersons under 18 years of age earning not more than the amount indicated below.
BPersons aged 18 and over, earning not more than the amount indicated below.
CAll persons whose basic weekly wage is between the amounts indicated below
DAll persons whose basic weekly wage is equal to or exceed the amount indicated below.
EStudents * under 18 years of age.
FStudents * 18 years and above.

*Students who are following a full-time course of studies or instruction under the student-worker scheme, or other similar schemes (including the extended skills training schemes but excluding the worker-student schemes) involving distinct work and study periods for which they are receiving remuneration.

CategoryBasic weekly wage from (€)Basic weekly wage to (€)Employee
Rate (%)
Employer
Rate (%)
TotalMaternity (%)
A0.10213.546.626.6213.240.20
B0.10213.5421.35*21.3542.700.64

*Or if the employee chooses, 10% of the basic weekly wage. This rate of contribution entitles the contributor to pro-rata contributory benefits.

Rates for persons born up to 31st December 1961:

CategoryFromToEmployee
Rate (%)
Employer
Rate (%)
TotalMaternity (%)
C213.55423.071010N/A0.30
D423.08N/A42.3142.3184.621.27

Rates for persons born from 1st January 1962 onwards:

CategoryFromToEmployee
Rate (%)
Employer
Rate (%)
TotalMaternity (%)
C213.55532.281010N/A0.30
D532.29N/A53.2353.23106.461.60

Rates for persons born from 1st January 1962 onwards:

CategoryFromToEmployee
Rate (%)
Employer
Rate (%)
TotalMaternity (%)
EN/AN/A10%
(Max 4.38)
10%
(Max 4.38)
N/A0.30%
(Max 0.13)
FN/AN/A10%
(Max 7.94)
10%
(Max 7.94)
N/A0.30%
(Max 0.24)

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change.

Mercans Recommends

View PDF

Malta revises social security and maternity fund contribution rates for 2024
Size

845.65 KB

Most viewed posts

View all posts

Avasant Selects Mercans as a Leader in Payroll Business Process Tra...

The meticulous research methodology employed by Avasant included analyzing publicly available information like SEC filings, annual reports, and executive interviews, along with engaging in discussions and market interactions.

Dec 22, 2023 4 min read

Global BPO Leader Infosys Selects Mercans’ Payroll Tech to Power i...

This partnership brings together Mercans' disruptive payroll tech and Infosys' consulting and BPO capabilities to create the most tech advanced and operationally resilient global payroll offering.

Sep 26, 2023 3 min read

Mercans: A Leader in Global Managed Payroll – ISG Provider Lens™ 2023

Payroll solutions and services study meticulously assessed 36 vendors across three distinct quadrants, and Mercans proudly emerged as a frontrunner.

Nov 9, 2023 2 min read