Updated on: 23-11-2021

Main tasks

The IGFSS, within the scope of the internal control system of the State’s financial administration, must ensure the verification, monitoring, evaluation and reporting, within the budgetary, economic and property areas, of the activities carried out by the Social Security system bodies.

In parallel with the progressive development of the Social Security system, the IGFSS competences have also been strengthened. Therefore, the main tasks of the Social Security Financial Management Institute are the following:

Debt management:

To ensure Social Security debt collection;
To monitor and control the debt settlement actions carried out by the Social Security Institutions;
To represent Social Security in actions aimed at institutional cooperation with other public and private creditors;
To ensure the opening and investigation of Social Security debt recovery procedures by the Social Security Executive Procedure Sections;
To decide, in accordance with the law, the position to be taken by Social Security within the scope of judicial and extrajudicial debt settlement procedures.

Real estate management:

To ensure the management and administration of the assets and rights held by the IGFSS and that belong to the Social Security real estate;
To promote real estate studies and evaluations within the scope of the Social Security system;
To promote and implement Social Security real estate disposal programmes.

Budget and account:

To prepare the Social Security budget;
To ensure, coordinate and monitor the Social Security budget implementation;
To define the criteria and standards to be followed in the preparation and organization of the Social Security budget, as well as the rules for its implementation and amendment;
To prepare the Social Security account;
To define the accounting principles, concepts and procedures to be adopted in the social security system, through the preparation of the sector’s chart of accounts, and ensure the respective compliance;
To participate, in collaboration with the other institutions, bodies and services, in studies and works with an impact on the financing and change of benefits from the Social Security system.

Financial management:

To optimise the management of the social security system´s financial resources, namely by the use of instruments available on the market, aimed at ensuring the yield of cash surpluses;
To perform single treasury functions of the Social Security system;
To establish, within the scope of the Social Security system, relations with the banking and financial system, without prejudice to the competences of the Social Security Capitalisation Fund Management Institute (IGFCSS – Instituto de Gestão de Fundos de Capitalização da Segurança Social);
To contract the financing necessary for the system’s financial balance, in accordance with the applicable legislation;
To propose strategy and financial policy measures to be adopted within the scope of the Social Security system and ensure the respective implementation, without prejudice to the competences of the Social Security Capitalisation Fund Management Institute (IGFCSS – Instituto de Gestão de Fundos de Capitalização da Segurança Social);
To ensure the management of the Wage Guarantee Fund, the Social Relief Fund and other funds whose management is also the Institute´s responsibility;
To provide guarantees in favour of the financial system, in accordance with the decree-law of annual budget implementation;
To ensure, in cooperation with the Strategy and Planning Office of the Ministry of Solidarity and Social Security, the implementation of the appropriations entered in the Social Security budget for the financing of external cooperation costs, without prejudice to the specific competences of the Ministry of Foreign Affairs.

Internal control system of the State’s financial administration:

To ensure the verification, monitoring, evaluation and reporting, within the budgetary, economic and property areas, of the activities carried out by the Social Security system bodies.