ECONOMY

Social security debt settlement scheme being snapped up

social-security-debt-settlement-scheme-being-snapped-up

More than 36,000 applications had been submitted for the Labor Ministry’s new debt settlement scheme by Friday morning, less than 10 days after the platform for submissions was launched.

The applications come from non-salaried workers who owe money to their healthcare and pension providers and are seeking to settle those debts in up to 120 installments.

More than 9,000 employers who have fallen foul of their commitments to social security funds have also applied to enter the lenient new scheme, the Labor Ministry said on Friday.

“The 120-installment plan and the significant write-off it provides allows hundreds of thousands of insurance fund customers and businesses to get rid of old debts once and for all,” the ministry said, adding that total visits to that section of the website of the umbrella Single Social Security Entity (EFKA) have exceeded 210,000.