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insurance funds

Security Fund Reforms and Farmers Taxation will put Greek Government Under Pressure

Security fund reforms and farmers taxation will be the stress test for the SYRIZA-ANEL coalition with the coming of the new year. The representatives of Greece's lenders return in the first days of 2016 in order to negotiate the "hot"...

'Black Hole' in Funds Causes Deficit in Pensions

The insurance funds’ deficit has reached 13.88 billion euros and it is threatening the pensions of Greek citizens. Out of the total 1 billion euros came from delayed lump sums, as well as main and supplementary pensions that the...

The Greek Proposal and Differences with Creditors

The Greek proposal that was tabled on Thursday's meeting of Eurozone finance ministers is published on the website of Kathimerini daily, showing the concessions Athens has made to secure an agreement with lenders. Two texts were presented at Thursday's Eurogroup:...

250,000 Pension Applications are Frozen in Greece

The list of retired employees who have applied for pension is getting bigger each day reaching 250,000 applications, while the waiting period may reach up to five years for supplementary pensions. Applications are frozen because pension legislation is pending, while...

Greek Govt Seeking Liquidity Assistance from Social Security Funds, Hospitals and Farmers

His belief that there are alternative solutions to liquidity problems in March expressed a senior Greek financial official just before the Government Council for Economic Policy meeting that was earlier concluded under the presidency of government Vice President Giannis Dragasakis....

Insurance Funds €400 Million Short in 3 Months

Insurance funds are in danger of suffocation, as in the last three months of 2014 there was a deficit of 400 million euros. From October onwards, there is a recorded lag of 16- 17% in expected revenue, thus creating a...

10.5 Billion Euros Owed to Insurance Funds

Latest data released by the Ministry of Labor show that debts towards the insurance funds in Greece amount to 10.5 billion euros. The funds that are damaged the most are IKA-ETAM, self-employment fund OAEE and farmer pension fund OGA. The greater...

Pension Funds at the Edge of Bankruptcy

The social security system in Greece is in a bad shape, as the assets of the pension funds don't exceed 4.5 billion euros, except from the seamen's (NAT) and the farmer's pension funds (OGA). It is estimated that from 2016 the...

Account Seizures Legal Without Informing the Debtor

The seven members of the Council of State of Greece announced yesterday their decision regarding seizure of salaries and pensions of debtors owing to the State. They announced that debtors will not be informed beforehand in regards to the...

Collapse of Insurance Funds

The economic situation of the insurance system shows a rapid deterioration, with a dramatic decline of revenues and a sharp increase of overdue debts. These developments will inevitably lead to new cuts, firstly in the supplementary pensions with lump-sum payments...