Those who owe to the Public Insurance Fund will have a new opportunity, as it is estimated that in the coming weeks the new plan prepared by the Ministry of Labour for the regulation of overdue contributions will be approved by the Parliament and implemented.
The amount of late contributions to the Fund amounts to €210 million. The differentiation of the new debt repayment plan from the previous two plans is that the number of repayment instalments will be reduced to 48 from 54, while debtors will no longer be exempt from the additional fee – charge, as was previously the case.
A relevant bill was submitted to the Parliament by the Ministry of Labour, which aims to facilitate the compliance of employers, self-employed and businesses with their insurance obligations. According to the introductory report of the bill, through the provision of clear and realistic repayment terms, the aim is to strengthen the collection performance and gradually settle pending issues, in a way that ensures the stability and sustainability of the social security system.
Who will benefit
The new plan will benefit several debtors of overdue contributions, as debts that are under settlement will be settled. The additional fee imposed will not be increased for periods of delay. Also, no criminal prosecution will be initiated against debtors throughout the period of their inclusion in the repayment arrangement, while criminal prosecutions against debtors will be suspended for the entire period during which they are included in the settlement.
At the same time, in the case of debtors whose debts have been adjudicated and a decree for the execution of a warrant by the Court is pending, the decree will be suspended during the period they are included in the arrangement. The new plan will regulate contributions to Social Insurance, for annual paid leaves, termination of employment, the Social Cohesion Fund, for the GHS and for the human resources fee.
In relation to employers, overdue contributions up to and including February 2026 are included, which are paid by the end of March 2026, while for the self-employed, overdue contributions are included until the fourth quarter of 2025, which are paid until February 10, 2026.
Parties call for an increase in instalments
The relevant bill will be put before the parliamentary Labour Committee on Tuesday, which will also examine a number of law proposals of the parties. It is worth noting that the Government wants the bill to be approved before the self-dissolution of Parliament in April, so that it can be implemented as soon as possible.
However, the crisis in the Middle East and the inflationary pressures that are expected to follow, may make it difficult for some debtors to pay off their debts to the Social Security Fund. Due to the formation of the new data, it is possible that some parties will demand that the same regulation be applied as in the previous plans and that the debtors who will be included in the plan be exempted from the additional fee-charge.
It is worth noting that at a time when the government bill reduces the number of instalments, party law proposals increase the number of instalments. Specifically, ELAM's proposal provides for the increase of the maximum number of equal monthly instalments for the repayment of overdue social contributions from 54 to 120! The law proposal of DIKO, the Ecologists and the independent MP Kostis Efstathiou provides for an increase in instalments to 120, when the debts exceed €50,000. The DIPA law proposal provides for the increase of instalments to 100, when the overdue debts exceed €30,000.
