President of federation of insurance funds’ employees: EFKA ‘surplus’ actually a deficit

29 June 2018
813 Views

The leadership of Greece’s federation of employees of social insurance entities on Thursday flatly disputed government claims that the new Unified Social Security Fund (EFKA) is operating with a surplus, charging, in fact, that the new fund’s deficit is nearing one billion euros.

The federation’ s president, Antonis Kourouklis, told members that EFKA is actually “sacrificing” 30,000 new pensioners in the country in order to post a “virtual surplus”.

He also disputed figures supplied by the relevant social insurances ministry and the Fund’s administration, which ostensibly show a surplus for 2017 reaching 1.52 billion euros, referring to “accounting tricks”, extraordinary subsidies funneled by the state and even transferring a portion of 2017 obligations to 2018’s balance sheets.

In offering details on what he called pending pension cuts as of Jan. 1, 2019, Kourouklis said EFKA beneficiaries with up to 24 years and 10 months of contributions today receive 519.23 euros, which will be cut by 72.37 euros at the beginning of the year, i.e. 446.86 euros per month.

For EFKA beneficiaries with at least 30 years and nine months, the current pension rate is 800.71 euros per month, dropping to 656.58 euros a month in 2019, a reduction of 144.13 euros.

In a diametrically conflicting statement, relevant Deputy Social Insurances Minister Tassos Petropoulos referred to “very high surpluses” posted by EFKA for 2018, speaking in Parliament during debate on a draft bill submitted by his ministry.

Asked about pension reductions in 2019, an austerity measure already agreed to with creditors, and one that will be implemented even after the current bailout ends in August 2018, Petropoulos merely said that due to “for reasons of appropriate political management, these issues will be taken up by the Prime Minister”.

You may be interested

Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)
FINANCE
shares12 views
FINANCE
shares12 views

Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)

Panos - Jun 23, 2021

The signatures for the biggest construction project that is taking place after Attiki Odos, fell tonight in Galatsi, where in…

Alco poll: New Democracy leads with 12.9 points
GREECE
shares7 views
GREECE
shares7 views

Alco poll: New Democracy leads with 12.9 points

Panos - Jun 23, 2021

A marginal change in the political scene is reflected in a poll conducted by Alco for the Open that took…

Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)
GREECE
shares18 views
GREECE
shares18 views

Signatures for Line 4 of the Metro – Mitsotakis: The country is turning the page (videos)

makis - Jun 22, 2021

The signatures for the biggest construction project that is taking place after Attiki Odos, fell tonight in Galatsi, where in…

Leave a Comment

Your email address will not be published.