BUSINESS

Social security dues scheme almost ready

ROULA SALOUROU

TAGS: Economy

The plan that the Labor Ministry is preparing for the settlement of social security dues in 120 installments will concern arrears created between 2002 and 2016, which in some cases will be recalculated, leading to the reduction of total dues by 60-70 percent.

The new plan, as Minister Effie Achtsioglou reiterated on Wednesday, is almost ready, and according to the timetable will be submitted to Parliament in February and start running from March.

Sources say the arrangement of social security dues will include a minimum payment of 50 euros every month as well as a maximum number of 120 tranches. This effectively means the number of installments will be decided by the debtors themselves.

Applications will be submitted via a special online platform and debtors will also be able to choose whether their dues are recalculated, as a possible partial write-off of their original arrears would also lead to a drop in their future pension.

The ministry has staked a lot on this payment program, as it is expected to help some 80,000 freelance professionals, farmers and self-employed Greeks who are close to retiring and have social security debts.

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