31 - January / 2019

The average salary in Andorra increased by 2.4% to 2,111.91 euros

The Council of Ministers has approved the Decree which makes public the average global monthly salary contributed by all employees in the CASS (Andorran Social Security Fund) in 2018, which stood at 2,111.91 euros. This amount represents an increase of 2.4% compared to 2018.
 
This average wage is the reference contribution base for self-employed persons. Thus, the contribution to the general branch of self-employed persons is set for 2019 at 211.19 euros, and the contribution to the retirement branch at 253.43 euros.
 
However, the contribution amounts to be assumed by the self-employed vary depending on their income, so they can take 25% of the contribution, 50%, 75% or 100%. In addition, the forthcoming Social Security draft Law, which is in parliamentary procedure, foresees new contribution tranches of 62.5% of 125% and 137.5%, which will allow the contributions to be better adapted to different situations. In addition, the planned amendment will increase the number of beneficiaries of the reduced schemes.
 
On the other hand, the average salary of 2018 is also used to establish the purchase and sale price of retirement points. Thus, the selling price stands at 2.25199 euros and the purchase price at 21.61910 euros for the year 2019.

Text: Govern d’Andorra