Spain is a high-welfare country in Europe. After paying social insurance, individuals can enjoy free medical care and receive unemployment benefits, retirement pensions, and other entitlements. So, what is the insurance system in Spain like? Let's take a look!
Social Insurance
Spain has a comprehensive social insurance system. When a company hires employees, in addition to paying salaries, it must also contribute approximately 30% of the employee's net salary to social insurance. The social insurance fees vary by industry and include the following three categories:
1. General Social Insurance
Full-time employees: The rate is 28.3% of the salary, of which the individual contributes 4.7% (mainly for medical care, pensions, etc.);
Part-time employees: The rate is 11.32% of the salary, of which the individual contributes 1.88%.
2. Work Injury Insurance
Full-time/Part-time: The rate is 0.99% of the salary, of which the individual contributes 0.63%.
3. Unemployment, Training, and Other Insurance
Full-time employees: The rate is 8.9% of the salary, of which the individual contributes 1.7%;
Part-time employees: The rate is 0.4% of the salary, of which the individual contributes 0.0%.
