As of January 2023, contribution to the Disability, Old Age and Death regime (IVM – for its acronym in Spanish) will increase with the aid of three contributors, according to the agreement of the Board of Directors, session 9038 of June 20, 2019.
With this increase, the employer, the employee, and the State will make the following contributions:
- Employer: Pays an additional 0.17% for a total of 5.42%;
- Employee: Pays 0.17% more, for a total of 4.17%; and
- State: Pays 0.16% more, for a total of 1.57%.
This measure seeks to improve the financial sustainability of the retirement system that unites all who contribute to Costa Rican Social Security.
At BLP, we have a team that can assist you with the process. For more information, contact us at [email protected] or through WhatsApp o Telegram at +506 6280 2269.