Pension administrators are also trying to alleviate the financial distress that entrepreneurs are experiencing as a result of the coronavirus crisis. They are helping them as much as possible to overcome the difficulties they are facing in relation to the payment of pension contributions. As the problems differ from one sector and one employer to another, tailor-made arrangements will be worked out based on the following possibilities:
- Pension administrators will make a payment arrangement with employers, where necessary. In this case the individual employer must contact the pension fund, insurer or contributory pension institution (PPI).
- The periods for paying pension contributions will be extended within the bounds of what is possible under the law.
- Pension administrators will pursue a less strict collection policy, including deferring the engagement of debt collection agencies and the imposition of penalties.
Entrepreneurs experiencing acute problems with the payment of their pension contributions are advised to consult the website of their pension administrator and, if necessary, to contact their pension fund, insurer, PPI or financial advisor.