← Overview Database of Innovative Social Policies in Europe
Wage promissory note payment
Country of implementation
Greece
General short description of the innovation
The wage promissory note payment is the new obligatory method to pay the laborers and those working in cleaning, deliveries and domestic work according to which the employer buy a special promissory note from a bank writes the amount of payment, the working time and the name of the beneficiary and gives it to the worker instead of payment in cash. Afterward the worker cashing it at the bank which extracts 10-25% of its value as social contributions.
Target group
Total Population
Policy Field
Type of Policy
Scope of innovation
General description of (intended) objectives and strategies
The aim of this measure is to reduce informal employment and to support financially the insurance funds. All informal workers have no right to social insurance unless they are paid according to this method. The great number of informal workers in Greece are migrants and youths
Nature of the innovation-short-term perspective
systemic
Nature of the innovation-long-term perspective
programmatic
Type of ideal-typical strategy for the innovation
- dualisation
Type of innovation
- new form of policy monitoring and/or evaluation
- new policy, practice or measure
New outputs
- benefit eligibility
- governance
- regulations of the labour market
- wages
Intended target group
Youths / Migrants / women /
Working age population
- employment situation
- main source of income: paid work
Actors involved in policy-making/implementation and/or evaluation
- agency or national social insurance body
- central state
- employees (organised or individual)
- employers (organised or individual)
Intended output
- benefit eligibility
- governance
- regulation of the labour market
- wages
Intended and unintended outcomes
not defined
Clarification of outcomes in terms of impacting resilience and labour market inclusion
This measure is expected to reduce informal employment
