Social Security advises debtors on installment interest cuts

The General Social Security Corporation has reached a decision aimed at alleviating the financial burdens on owed establishments by allowing installment payments of their debt with reduced or no interest, through the end of 2026. The decision states that establishments that make an initial payment of at least 25% can have their installment interest entirely waived. Establishments that pay 20% of the debt value will benefit from a reduction in interest to 1%, while those paying 15% will see the interest reduced to 2%. This decision aims to support establishments in facing economic challenges and to facilitate the settlement of debts while safeguarding workers' rights. The corporation has urged the targeted companies to review their branches or contact their official channels to take advantage of these facilities before the benefit period ends on December 31, 2026.

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