Social Security Reduces Debts: The National Social Security Fund has announced an 85% reduction in outstanding debts as part of a new mechanism.
The mechanism aims to facilitate transactions for employers, institutions, and insured individuals, as well as to resolve outstanding cases.
The Fund explained that Director General Mohammad Karaki worked in coordination with the government, employers, and workers.
Under the supervision of Labor Minister Mohammad Haidar, efforts were made to remove obstacles preventing the repayment of debts and the issuance of debt clearance certificates.
Based on Law No. 47 and Board of Directors Resolution No. 12, Karaki issued Information Memorandum No. 846.
The memorandum stipulates a reduction in interest rates on end-of-service settlements and installment bonds, as well as late payment surcharges resulting from unpaid contributions through December 31, 2025.
Payment or installment arrangements must be made by July 30, 2027.
Social Security exemptions also cover voluntary contributors, retirees, drivers, doctors, village mayors, and other special categories.
Debts may be paid in installments over a maximum period of five years, with an annual interest rate of 5%.
It was also decided to cancel debts owed to the Fund through December 31, 2000,
This excludes debts owed by the state and public-law entities.
Karki urged those concerned to act quickly to take advantage of these facilities.
This is due to their positive impact on the economy, the Fund’s finances, and the quality of health and social services.
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