By: Estefania Chacón
According to the reform to the Regulation of the Disability, Old Age and Death Insurance of the Costa Rican Social Security Fund, agreed in session N. 9038 of the Board of Directors of the Costa Rican Social Security Fund, since June 20, 2019, the an increase every three years successively to the percentages of the contribution to the IVM.
This implies that, as of this month, the amount of contribution to be tripartite varies for workers, employers and the State, increasing the following percentages respectively: 0.17%, 0.17% and 0.16%, these percentages apply as of January 01 from 2023 to December 31, 2025.
| Period | January 2020 – December 2022 | January 2023 – December 2025 | Increase |
| Patron | 5.25% | 5.42% | 0.17% |
| Employees | 4.00% | 4.17% | 0.17% |
| STATUS | 1.41% | 1.57% | 0.16% |
| Total: | 0.5% |
It is mandatory for the employer to execute these changes when canceling or withholding amounts corresponding to worker-employer social charges, otherwise they would be subject to administrative collection procedures by the Costa Rican Social Security Fund.
Finally, it is important to mention that the objective of this reform and the increases is to contribute to the sustainability of the IVM retirement system.
For more information you can contact us by email: recepcion@latinalliancecr.com or at +506 4052 6070.