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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)...

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%...

‘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...

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...

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...

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...

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...

‘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...

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...

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...

Greek Interior Ministry Refuses to Form Debt Collection Agency

The IMF is pressing Greece to form a private collection agency in order to recover millions of euros owed to social security funds. However, the...

Greek Pension Funds Have 2B Euro Deficit

Without finding additional financing to fill what could be a reported two billion euro ($2.73 billion) gap, there is a risk the government won’t...

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