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Monaco Sets Contribution Rates and Ceilings for New Supplementary Pension Fund

21 December 2023

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Approved Changes

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Monaco

Monaco has published Ministerial Order No. 2023-699 of 11 December 2023 in the Official Gazette, which sets the contribution rates and ceilings for the new supplementary pension fund introduced by Law no. 1.544 of 20 April 2023. The new supplementary pension fund enters into force on 1 January 2024, requiring contributions from both employers and employees in Monaco, with 60% of the contributions payable by the employer and 40% of the contributions payable by the employee (deducted and paid by the employer). The contributions are based on the gross remuneration of the employee and are due by the 10th day...