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OAEE

Greece's Major Security Funds About to Go Bust

Greece's two major security funds, OAEE and IKA, face tremendous shortages two months before the end of the year. The Professional Freelancers Security Organization (OAEE) is about to go bust. OAEE received 835 million euros in credit from the state...

Debts to Greek Security Funds Reach €33.6 Billion

The total debt to all Greek security funds reached 33.62 billion euros at the end of 2015, according to a Naftemporiki newspaper report. About 90% of the total debt from security fund contributions, or 30 billion euros approximately, are debts...

'Those Who Cannot Pay Security Contributions Can Move to Bulgaria,' Says Security Fund President

"Those who cannot afford to pay their security fund contributions, they can take their families and move to Bulgaria," said the President of Freelance Professionals Security Organization (OAEE), Dimitris Tsakiris. The provocative statement of the OAEE chief was made during...

Scraping Up From Pension Solidarity Fund to Pay Off Needs of Self-Employed

The road is being paved to scrape up 370 million euros from the Pension Solidarity Fund (AKAGE) to pay off the needs of the Organization of the Self-Employed (OAEE), Law Fund (ETAA) and Joint Self-Employment Fund (TSAY). This is...

Greece's Social Security Foundation (IKA) Seeks Help to Pay Pensions

Greece's Social Security Foundation (IKA) on Thursday is expected to seek approval for additional funding in order to pay pensions. The fund's reserves show a growing deficit, despite the fact that its revenues show an upward turn in the summer...

Greek Gov't Considers Cutting Pensions in Exchange of Security Contribution Debts

The Greek government is considering to exchange debts from unpaid contributions to security funds with lower pensions for the self-employed. Those with outstanding security contributions to the fund for the self-employed (OAEE) who are unable to pay, may be given...

Man Attempts Suicide at Social Security Office in Lamia

According to local media, on Tuesday, a 65-year-old man reportedly tried committing suicide by slashing his wrists with a pocket knife at a local branch of the OAEE social security fund for self-employed professionals. The event took place in Lamia,...

'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...

Greek Public Debt Management Agency Asks Security Funds to Buy Repos

The Public Debt Management Agency and the Labor Ministry have asked security funds to buy government repos in order to avoid potential liquidity problems. According to an Eleftheros Typos newspaper report, the PDMA and the Labor Ministry have asked 15...

Greece Spends More on Pensions Than Most Countries

Greece comes second on pension spending, according to an Organization for Economic Co-operation and Development (OECD) report. Greek pensioners, however, may have to wait up to three years until they get the first full pension check. The countries spending...