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In 2014, the Cyprus Guaranteed Minimum Income and Social Benefits Law was passed to replace the previous Public Assistance and Service Law. It covers all EU citizens and also long-term residents with legal status, and its main intention is to shelter those with higher risk of poverty and to guarantee the recipients with basic standard of living.
Social insurance system Pay Related Social Insurance: Occupational pension schemes: N/A Italy: Social assistance: Notional Defined Contributions: N/A: N/A Japan: N/A: N/A: N/A: N/A Jordan: No: Social insurance system: N/A: N/A Kazakhstan: Basic pension: Mandatory individual accounts: N/A: N/A Kenya: Older Persons Cash Transfer: Mandatory ...
[2] [3] Cyprus has a multi-payer health care system that consists of a public and private sector. [2] The public sector is funded by payroll, earnings taxes, and employer contributions. [2] The public sector healthcare provides social insurance for the employed, self-employed, and for several types of civil servant. [2]
From 1 March 2020 it will include hospital care, and contributions will rise to 2.65% for employees, 2.9% for employers, 4.7% from the state , and 4% for the self-employed. There are co-payments which are capped at €300 per year for patients and €75 per year for low-pension earners and recipients of Guaranteed Minimum Income. [4]
The Health Insurance Organisation is a state agency which runs the healthcare system in Cyprus. It manages a budget of €1 billion which pays for the Gesy system. It negotiates with the Cyprus Medical Association .
Farmers may also pay to KRUS health insurance and diminished social insurance contributions (limited to sickness, maternity and accident insurance, but excluding the pension and disability insurance) for seasonal workers employed up to 180 days per year for harvesting fruits, vegetables, herbs, tobacco, hop, or flowers.