The increase in the number of payments from 120 to 150 for legally registered people was approved by the Cabinet on 28 May and became law on July 8.
"Published in the Official Gazette on Tuesday was a decree extending to 150 the maximum number of payments for authorised peple" read a statement from the Ministry of Employment and Social Security.
The amendment, explains Minister Pedro Mota Soares, "has a huge potential to decrease the default rate on payment plans as well as helping those whose need a greater time to settle their debts to Social Security."
The statement noted also that the extension to 150 payments, which comes into force this Wednesday July 8, "shall apply to agreements currently in place if requested and authorised."
