Insurance funds “sink” despite pensions’ cuts

28 September 2016
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A series of cuts in three categories of beneficiaries are expected in pensions, that will start being paid on Thursday.

The three categories are the beneficiaries of ancillary pensions who are included in the third reductions package, the divident beneficiaries and the double pensioners, due to withholdings increase over EOPYY.

The return of recursions as well as the cut of the main pension for the high-paid pensioners and the bank employees have been postponed for the end of October. On Thursday the pensions of the public sector and IKA are the ones to be paid, while OAEE and OGA will be paid on Monday 3rd of October. On the 30th of October the pensions of NAT and KEAN will be credited , as well as the divident for July, August and September. The amount will be shrinked since the first installment of the recursions is to be counted in.

Even though thousands of pensioners have been struggling over their pensions reductions, still the Funds are drowning in debts and address to the Government Funding to respond to their commitments until the end of the year.An indicative example of the situation is IKA, that even if it presents an income increase from current contributions of 300 million Euros, its debts to EOPYY trascend the amount of one billion Euros and to OAED the amount of 3 billion Euros. Another 3 billion Euros are estimated as the cost of the pensions that haven’t yet been dispensed.

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