By Chrysostomos Tsoufis

In a few hours (12 noon) h ELSTAT will announce the December budget as well, so we will get a complete picture of inflation in 2023.

And along with the inflation picture, around 1.2 million freelancers, farmers and the self-employed will also find out about the increase in their contributions. For the last time this year, the amount of increases in contributions is determined by the increase in inflation, as from next year the determining factor will be the increase in wages of the previous year.

Based on the path of inflation so far, it is a given that the increase in contributions will be much less than last year’s 9.6%.

In the 2024 budget, the Ministry of Finance has forecast an annual increase in inflation of 3.9%. All the analyses, including the ECB’s, made a reason for an increase in inflation in December, but there is no mention of anything spectacular that could “throw” Nikis Street outside of its forecasts. In the worst case we are talking about an increase of around 4%.

Such an increase leads to an increase in contributions for freelancers and the self-employed from €9 to €24 depending on the class of main insurance contributions they have chosen. Increases for farmers range from €5 to €15. The increase concerns the main pension, auxiliary, one-off, the illness sector and additionally for farmers the rural household account.

Based on the above, the insurance categories of main insurance for freelancers and self-employed are formed as follows:
1st class €230 to €239
2nd class €276 – €287
3rd class €331 to €344
4th category €398 to €413
5th class €477 to €496
6th category €620 to €644

Similarly, the following increases will apply to farmers:
1st class €137 to €142
2nd class €164 to €170
3rd class €197 to €205
4th category €236 to €246
5th category €285 to €296
6th category €371 to €386

To these amounts must be added the €10 levy in favor of DYPA – formerly OAED – which is NOT increasing.
The notices with the new increased contributions of the self-employed will be posted on the EFKA website at the end of February.

The insured have until January 31 to choose the insurance category. The choice of insurance category is directly linked to the amount of the final pension. The cheapest category – chosen by almost 9/10 leads to very low pensions. It is possible to change class within the year but the change takes effect from the following year.