Auxiliary pension fund starts operating

Public- and private-sector salaried workers belonging to pension funds that have not been exempted, will have a new social security body, the Single Auxiliary Social Security Fund (ETEA).

As of Monday 2.5 million workers and 1 million pensioners will be covered by ETEA, new Labor and Social Insurance Minister Yiannis Vroutsis told Kathimerini, despite expectations for a delay of the measure: ?We will be flexible where we have to be, but the legislation has to be applied,? he said.

The new fund forms part of Greece?s creditors? requirements from Athens and serves as a statement of intent by Vroutsis ahead of meetings with the creditors? inspectors and the head of the European Commission?s Task Force for Greece this week.

Meanwhile, a Labor Ministry plan provides for benefits of 360 euros to 3,000 euros per month for a period of three to 12 months for all the self-employed, merchants, manufacturers, doctors, lawyers, engineers or journalists without a job.