IKA «breaks moneybox» to pay pensions

Even if the Government with the insurance law of Katrougalos has imposed cuts in ancillary pensions, the abolishment of EKAS, an increased deduct contribution and 11 in total ways to cut the pension of hundreds of thousands of pensioners, the deficit of IKA has doubled because of the reduction of the state funding and the income decrease.

The Worker’s Federation of Social Security Foundation (IKA) the deficit will be 2.1 Billion Euros for 2016, from 950 millions last year. As a result, the Social Security Foundation (IKA) is expected to cover a major part of its deficit using money from the Social Security Capital for the Solidarity of Generations (AKAGE), in order to pay-off the pensions.
According to information, the request for subsidy is expected to be approved in the next meeting of the Board of Directors on Thursday.

Meanwhile, the third cut in their pensions, will see 25.000 pensioners on the 4th of October. Between the “victims” are the gas station operators of OAEE, the Emporiki Bank pensioners, the ones of former gendarmerie (TEAEX), Notaries and lawyers. Retroactive withholding will be applied from November. Cuts for former employees of Emporiki Bank, who already receive an ancillary p ension, will reach 40%. The same percentage will be applied for lawyers, gas station operators and seamen. Notaries will see a cut of 25% in their pensions and press technicians will see a 15-18% cut.

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