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SP to Benefit by Millions of Euros from Social Insurance Bill
Thursday 19 August 2010 Zoom in | Print page
Bratislava, August 19 (TASR) - A Ministry of Labour, Social Affairs and Family statement reaffirmed on Thursday that its amendment to the social insurance legislation will have everyone earning a taxable income - namely employees, entrepreneurs and self-employed persons - subject to social insurance payments.
The bill introduces a common base for determining social insurance premiums and changes in drawing sickness benefits.
According to the statement forthcoming from the inter-ministerial-comment process, the measure will yield €335.29 million a year in revenues to the national pension provider Socialna Poistovna and €212.27 million to public administration; meanwhile, municipalities will lose €26.49 million in revenues as will state administration (€22.03 million) and there will be further expenditure reductions of €34.3 million.
"The overall impact on the public administration finances will be positive, as income from raising the bases for calculating social contributions will far exceed the projected growth in spending on the entitled social insurance benefits," according to a ministry statement. Entrepreneurs and individuals are expected to be slightly adversely financially affected.
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