Social Security Foundation

The passive management of the social security system's reserves has led to large losses.

If the reserves of the funds had been invested in the two mutual funds managed by the now-defunct Social Security Foundation (IKA) from 2002, when the law first allowed for more active management, the return would have been 18.5 billion euros, despite the bond haircut during the debt crisis.

As of Tuesday, more than 236,000 pensioners will see their auxiliary pensions increased by an average of 75.47 euros, according to estimates by the Single Social Security Entity (EFKA).
The hikes only concern retirees who saw their auxiliary benefits reduced in the summer of 2016 per the so-called Katrougalos law because the sum of their main and auxiliary pensions exceeded €1,300.

A Labor Ministry circular paves the way for the issue of pensions for the long-term unemployed whose cases have been pending at the Single Social Security Entity (EFKA) since 2017. The circular clarifies that the favorable status of those workers, which dates to 2000, did not change with the passing of the Katrougalos law 2016, and remains in force.

Judicial officials have given the go-ahead for the eviction of anarchists from the Vox cafe in the capital's downtown Exarchia district, the unofficial headquarters of the anarchist group Rouvikonas, known for their attacks of vandalism against government, business and foreign diplomatic targets, Kathimerini has learned. 

Representatives of civil service pensioners will meet with Prime Minister Alexis Tsipras at 1 p.m. on Saturday, according to the head of their union, who spoke at a rally in Athens Wednesday.

The government is turning main pensions into little more than a social benefit, say people who used to work at the former Social Security Foundation (IKA).

Greek pensioners shout slogans during a demonstration against planned pension reforms in Athens, Tuesday.

Greek pensioners take part in a demonstration against austerity measures that include further cuts to their income, outside Parliament in central Athens, on Friday. Thousands of elderly people took part in the rally which paralyzed traffic in the center of the Greek capital.

A group of anti-establishment protesters smashed windows, glass counter partitions and computers at a downtown Athens branch of a state insurer on Thursday morning.

A 42-year-old man was arrested for fraud and making false claims with the Social Security Foundation (IKA) after the electronic crimes squad found he had made insurance claims in the years 2014 and 2015 for bogus employees at a company which was no longer operating at that time.