New social security thresholds

Parliament recently revised the social security thresholds for pension and health insurance contributions. With effect from 1st January, 2003, the ceiling for pension contributions is EUR5,100 (US$5,315) and the ceiling for health insurance contributions EUR3,450 (US$3595). In addition, pension contributions have been increased to 19.5 % of the monthly gross salary (health contributions range from 13.5 to 15.2 %). Social security contributions are shared equally between employee and employer.

Source (in German): Federal Ministry of Economic Affairs, draft legislation, available at www.bmwi.de Isabell H. Weiler, KPMG Beiten Burkhardt, Frankfurt email: iweiler@kpmg.com

 
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