Boost in the cards for professional pension funds
[Shutterstock]
A bill being prepared by the Labor Ministry will contain interventions for the operation of Professional Social Security Funds (TEAs) in Greece.
Emphasis will go to facilitating the creation of multi-employer professional funds, the introduction of good governance practices, the transfer of their supervision from the central bank, plus a barrier to insuring people over 50 years old.
Plans include the taxation of retirement lump sums from TEAs by up to 15%, while the taxation of pensions will be lower, in the order of 10%, according to the baseline scenario.
The goal is to modernize the institution, which may have started in 2002, but is not particularly developed.
