Contribution cut from 2025

The new reduction in social security contributions by employers, which the government plans to implement in two phases, will start in 2025, it has been confirmed.

The reduction will be by one percentage point and will be split into half a point in 2025 and half in 2027, although there is pressure to accelerate it either later next year or in 2026. In any case, according to Minister of National Economy and Finance Kostis Hatzidakis, within 2025 the total contributions will be 35.66%, from the current 36.16%, and there will be 0.5 of a point left to be cut subsequently. "The further reduction of social security contributions by one point is our commitment," the competent minister of labor, Domna Michailidou, has announced to all social partners who are urgently requesting the limitation of non-salary costs. 

She adds, of course, that "each percentage point reduction...