The Republic of Cyprus has a comprehensive social security scheme, which is compulsory for everyone who is working in Cyprus as an employee or as a self-employed person.

The scheme covers sickness, maternity, disability and unemployment benefits, retirement pensions and an annual paid vacation fund.

Employees are required to contribute 16.6% of their earnings, and the self-employed 15.6% of their earnings to the social security fund. However, these contributions are split between the insured employee, their employer and the state in the case of employees, and between the insured and the state in the case of self-employed people.