Economy

Plan for 48 instalments on social insurance debts

By: SigmaLive English

Date:

Debtors to the Social Insurance Fund will again gain the option to settle social insurance debts, as the Labour Ministry prepares a new scheme under existing legislation.

Members of the Social Insurance Council have already received briefing on the ministry’s intention and were invited to comment on an amending bill to the law regulating overdue social insurance contributions.

Fewer instalments proposed

The proposed amendment does not substantially change the current settlement procedure. However, it reduces the maximum number of monthly instalments to 48 from the 54 allowed today.

To launch a new settlement scheme, the Labour Ministry must issue a formal notification published in the Official Gazette of the Republic, as required by law.

Scope of eligible debts

The notification will define which overdue debts qualify for settlement, covering liabilities that precede the date specified by the labour minister.

Beyond repayment through monthly instalments capped at 48, the scheme will also allow lump-sum settlement of regulated debts with exemption from additional charges.

Next legislative steps

If the ministry proceeds with its planning, authorities will submit the amending bill to parliament for approval. The labour minister will then issue the formal notification, followed by an announcement inviting applications from employers and self-employed workers who owe social insurance contributions to the Social Insurance Fund and other funds collected by the Social Insurance Services.

Approved applicants who face pending criminal prosecutions may see those proceedings suspended by the attorney general after notification from the director of the Social Insurance Services.

Previous schemes and impact

Past settlement schemes strengthened the Social Insurance Fund’s collection capacity, which remains particularly high, while also improving liquidity for indebted businesses. Political parties in parliament had pressed the government through legislative proposals to consider introducing a new scheme.

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