European Restructuring Monitor (ERM)
Eurofound's ERM database on restructuring-related legal regulations provides information on regulations in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change.
2 d), 4 (4), 7, 12, 18, 25, 102, 103, 109, 116,120, 165 (461/2003); 11, 24, 56 (7/2005); 21 (311/2001)
In cases of employer's insolvency, workers’ wage claims are guaranteed through the Act on Social Insurance and the Act on Bankruptcy and Restructuring.
All workers with an employment relationship that lasted at least 18 months before the insolvency (the last working day before the employer filed for insolvency) are eligible, including employees with fixed-term contracts, part-time workers and employees working externally according to assignment contracts. However, employees of the state, public organisations, support organisations, national funds and municipalities, as well as domestic workers in a family business or people working for their family relatives who have not entered into an employment relationship are not eligible.
An employer is considered insolvent if it has filed for insolvency at the court.
The guarantee covers non-paid wages, bonuses, holiday remuneration, severance payments and travel expenses. The benefit covers employees wage claims for a maximum duration of three months.
To get access to the wage guarantee benefits, the employee has to apply within 60 days after the insolvency or termination of the employment relationship. The Social insurance Agency (SP), which administers the guarantee fund, has to decide and pay the benefit within 60 days from the application. The fund is financed by employers' contributions.
In context of the COVID-19 pandemic, the government meet employers and the self-employed by postponing the deadlines for mandatory payments to insurance funds.
Data on wage compensation from the Guarantee fund, including expenditure, is availalble through the Social Insurance Agency.
Eurofound (2015), Slovakia: Wage guarantee in case of insolvency, Restructuring legislation database, Dublin, https://apps.eurofound.europa.eu/legislationdb/wage-guarantee-in-case-of-insolvency/slovakia
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