Belarusian Pension Fund Runs Out of Money

Enterprises have no money to contribute to the SSF.

On 26 October 2020 the usurper Lukashenka signed Decree No. 381 "On ensuring settlements with budgets". It tightened the responsibility of enterprise management for late deductions to the Social Security Fund (SSF), reports afn.by.

The document prohibits all types of bonuses to the management of organizations if there are debts to the SSF. Previously, such a prohibition was valid only if an organization had a debt to pay payments to the budget.

Besides, the payments that subject to the prohibition involve bonuses and rewards.

The liability measures will apply only to the persons directly responsible for the financial state of the organization and empowered to make relevant administrative decisions. Thus, the chief specialists and their deputies, who execute management decisions, will not be held liable, except for the chief accountant and his deputies, who make independent payments to the budget.

The denial of a bonus will depend on the number of days of indebtedness and (or) periods that allow overdue indebtedness.