The social security contributions for self-employed are reduced for persons 26 years old and younger. The reduction is 75 per cent, except for the old-age pension contribution. Hence, the social security contribution for self-employed youth amounts to 14.89 %.
For persons over 65 years old, and born 1938 or later, only old-age pension contributions have to be paid (10.21%).For persons born 1937 or earlier, no social contributions need to be paid.
From 2014 the social security contribution of entrepreneurs/company owners are lowered as 7.5 % (instead of 5 %) of the income may be deducted before the fees are calculated.