A widespread comment is that contributions to the Overseas Social Security are fairly high. But is this really the case? And how are they calculated?
To fully answer these questions, we need to take a look at the calculation of NSSO contributions, which are calculated starting from each employee's gross income.
- The employee contribution to gross wages is 13.07%. For a gross salary of €3,000, for example, this amounts to around €400.
- The employer contribution varies between 25% and 32% to the employee's gross salary. For a gross salary of €3,000, this amounts to between €750 and €960.
These contributions are used to provide for all branches of Belgian social security. The NSSO's methods, target group and offerings differ from those of the Overseas Social Security. This means that contributions are calculated in a different way:
- At the Overseas Social Security you are free to choose between a contribution for the basic package, for pension and sickness and disability, as well as supplementary insurance policies for medical care, workplace accidents and accidents in private life;
- The minimum contribution for the basic package is €. The maximum contribution is €. If you choose supplementary insurance in addition to the basic package, you will pay € for medical care, between € and € for workplace accidents and between € and € for accidents in private life.
- a pension
- incapacity for work, disability and maternity leave insurance
- a deferred insurance policy for medical care
75% of the costs made abroad for your medical care is reimbursed:
- without an annual limit
- also for dependent family
Does this mean the Overseas Social Security is expensive?
Compared to the mandatory contributions in Belgium, the contributions of the Overseas Social Security are on the same level. The main difference is that NSSO contributions are directly and mandatorily deducted from the base (gross) wage and the Overseas Social Security is subject to a voluntary contribution.
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