The country’s social security system is in for seven difficult years, as up until 2030 the generation of baby boomers will be rushing to retire.
The country’s social security system is in for seven difficult years, as up until 2030 the generation of baby boomers will be rushing to retire.
The ongoing debate over multiple pensions for former and current state officials has taken center stage in Cyprus.
Today’s teenagers, the children born during the debt crisis of the previous decade, who will enter the labor market around 2030, will be able to retire at the age of 72.5 having worked at least 38.5 years, according to the European Commission’s 2024 Aging Report – Economic and Budgetary Projections for the EU Member-States 2022-2070.
The sustainability of the social security system is considered assured until the distant 2070.
The new reduction in social security contributions by employers, which the government plans to implement in two phases, will start in 2025.
The Labor Ministry will grant social security capacity to approximately 100,000 self-employed people with small debts to the Single Social Security Entity (EFKA) – from a few cents to 100 euros.
Demographics is a matter of “major importance” for Greece due to the serious challenges it causes both in terms of economic development and social stability, according to the Foundation for Economic and Industrial Research
The Single Social Security Entity (EFKA) is seeking to make a huge leap.
Working pensioners have four months to apply on the special platform of the Single Social Security Entity (EFKA) to have the 10% special contribution deducted from their wage which will eventually lead to an increase in their pensions to the tune of up to 3,500 euros annually.
The Single Social Security Entity (EFKA) started sending 281,000 email messages to freelancers.
Dozens of elderly expatriates from Georgia are accused of attempting to fraudulently obtain pension benefits from the Greek Social Solidarity Privileged Benefits Organization. Their trial was postponed on Tuesday until April.
The vast majority of self-employed professionals, who choose the lowest (or first) social security category, will pay almost 8 euros per month or €95.52 per year more in their contributions for main pensions and healthcare.
The Single Social Security Entity (EFKA) has entered a trajectory of fiscal balance and actuarial sustainability.
The Organization for Economic Cooperation and Development on Wednesday presented the paradox of the Greek social security system, and generally the distorted way of the country’s development in the last few decades, in its report on pensions.
The Single Social Security Entity (EFKA) has planned for successive payments before Christmas to 2.5 million pensioners.
The pension increase for 2024 has been determined at 3%, with the first payment in January already scheduled for just before Christmas.