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Is Monaco’s Social Security System

Salaries, pensions, social benefits, employment law... In this article, Monaco Economie looks at
everything that goes into the Monegasque social security model, which is linked to the country’s
attractiveness.

Automatic quarterly indexation of salaries Employment, according to which "employment that “Monaco has lost its attractiveness due
to inflation, a thirteenth paid month, profit- has increased by 24.6% since 2013”. This is to the salary policy practised in the 2000s
sharing bonus which should be close to why after meeting 75 business representatives and social deregulation”. “Since that time,
2000 euros, accommodation for seasonal from Monaco in June, the government decided due to the breakdown of the law on minimum
workers... In Monaco, the Société des Bains to organize its first Employment Forum at the wages during the transition to 35 hours in
de Mer is unique, especially in terms of Grimaldi Forum on September 15. As a result, France, many professions pay the minimum
social benefits. “SBM is the company with the this first edition, which brought together nearly wage, the only legal reference, without taking
highest salaries in all professions, whether 150 companies and professional federations, into account qualifications. Fixed-term CDD
in restaurants, hotels or casinos. (…) We are exceeded expectations by attracting more than employment contracts, which can only be
above even the Monegasque average and 3,650 visitors. “Employers left with folders full terminated for fair reasons, are more protective
typical salaries,” its president Stéphane Valeri of CVs. Those who were struggling to recruit than permanent CDI contracts", consider Olivier
recently enthused at a press conference, have collected very qualified profiles that Cardot, secretary general of the USM and his
reminding us of the strengths of his group in they were unable to attract until now. I saw deputy Bruno Augé, who are calling for an
a context where the quest for attractiveness engineers coming from Luxembourg interested increase in salaries (in particular the minimum
is on everyone’s minds. “The Principality must in Monaco. Hirings were clinched during wage to 2,250 euros) and the abolition of
remain attractive in terms of employment. the Forum. The Department of Employment the famous article 6, legitimising dismissal
This is an extremely important challenge that also collected more than a thousand CVs without reason. Although this method is a
we must take up,” say Minister of State Pierre by email to redistribute to employers in the tool of flexibility for employers, there is no
Dartout and Government Minister of Social principality!” rejoices Christophe Robino, control over its use and its excesses. “This
Affairs Christophe Robino, who have been happy that “following this test even the most creates instability and unnecessary pressure
insisting on this fact for several months now. sceptical bosses are convinced of the benefit for employees, and can generate abuse of
of organising a new, bigger employment forum all kinds,” add Jean-Luc Cloupet and Cédrick
64,000 jobs concentrated over 2 sq. km in February-March”. Lanari of F2SM.
As Monaco now has 64,000 jobs spread For the minister, this success “represents the
over just 2 sq. km, "certain sectors are best response to those who denigrate the “Let’s give ourselves the necessary
having difficulty recruiting, a previously attractiveness of Monaco, the employment recruitment resources”
unknown phenomenon which does not only conditions and the quality of pensions”. An On the remuneration side, the government
affect Monaco", notes the Department of allusion to the Trade Union which believes recognizes that some companies could

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