Liberalism in the United States

The 1.5 million freelancers, self-employed professionals and farmers who are insured with the Single Social Security Entity (EFKA) face an April 8 deadline for the payment of the new main social security contributions for February that have increased for most of them.

A harsh social security reform with cuts to rights and handouts is slowly being planned at the Labor Ministry, with the drafting of the new Single Regulation for Social Security and Benefits of the Single Social Security Entity (EFKA).

The average social security income for the country in November 2018 is BGN 917.00, informs the National Social Security Institute (NSSI). The average monthly insurance income for the country from December 2017 to the end of November last year is BGN 884.37.

Workers and their employers will see their auxiliary social security contributions drop from 7 percent to 6.5 percent from June this year and up to May 31, 2022.

In practical terms, this constitutes a gradual return of contributions paid by employers and employees to pre-2016 levels.

A planned increase in the minimum wage on January 15 will affect more than 1.5 million employees, but also unemployed people receiving benefits based on its level.

The Center for the Collection of Social Security Arrears (KEAO) is very close to registering a new revenue record this year.

The seizing of bank accounts is proving to be the most efficient weapon in this process, resulting in KEAO collecting 1.15 billion euros in the first 10 months of the year, against a target of 1.2 billion for the whole of 2018.

The Hellenic Actuarial Society (HAS) has proposed the establishment of a compulsory "second pillar" in social security that would be responsible for creating capital stock, within the long-term context of a three-pillar pension system that it sees as necessary for Greece.

The number of outstanding applications for benefits by retirees who have paid into the single auxiliary social security fund (ETEAEP) exceeds 90,000, which is proving a major headache for the fund's administration as well as the Labor and Social Security Ministry.

The Hellenic Confederation of Commerce and Entrepreneurship (ESEE) informed the Labor Ministry on Friday that it is in favor of the gradual rise of the minimum wage to 751 euros per month in 2022, as well as the "rationalization" of social security contributions by freelance workers and the reduction of contributions for auxiliary social security by one percentage point.

The Labor Ministry is launching a series of inspections to stamp out undeclared labor, following the publication by the Single Social Security Entity (EFKA) of the decision specifying details of the law this week.