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The Establishment of the Social Security Institution in Greece

The Social Security Institution (IKA) was established by law in June 8, 1932 as a socio-economic necessity at a time when Greek society was...

One in Two Greeks Unable to Pay Taxes Due

Greek taxpayers are drowning in debt as half of them are unable to meet their tax obligations, according to an Imerisia newspaper report. Higher taxes...

Greek State Dodges Payments to Suppliers

The Greek State has only paid 47.2 million euros in the first two months of 2017 out of the 3.8 billion it owes to...

BoG Chief: Greece’s Pension System Is Bankrupt, Reforms Necessary

Greece's current pension system is bankrupt and in need of reforms, such as raising the age of retirement to 70, said Bank of Greece...

Gap in Talks Between Greece and Creditors Remains

The teleconference between Greece and creditors on Friday ended with the two sides disagreeing on all major issues, with Finance Minister Euclid Tsakalotos planning...

Greece’s Demographic Problem Affects Pension System

The demographic problem in Greece and the serious consequences it has on security funds was a subject discussed at the 2nd Delphi Economic Forum. Demographics...

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...

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...

Hikes in Security Contributions Lead Greek Businesses to Status Change

Hikes in security contributions and taxes, along with rumors that contributions for 2017 will be calculated on the basis of earnings in 2015, have...

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