The current Social Insurance Scheme provides for the following benefits:
- maternity, sickness and unemployment benefits,
- marriage, maternity and funeral grants,
- old age, widow's, invalidity pensions and orphan's benefit, and
- employment injury benefits, i.e. injury benefit, disablement benefit and death benefit.
The benefits provided by the Scheme satisfy and exceed the minimum standards set by the International Conventions of the International Labour Organisation and the Council of Europe. In order to maintain the purchasing power of the benefits provided by the Scheme, the benefits are revised each year according to the increase of the cost of living index and the annual survey of wages and salaries.
The structure of the Social Insurance Scheme achieves social solidarity, not only between the young and the old, the employed and the unemployed, the healthy and the sick, but also between the high-income and the low-income earners.
On 9th of July 2010, came into force the Social Insurance Law N.59(I)2010, which consolidates and amends the Social Security Laws from 1980 to 2009 and associated regulations.