Key fund EFKA takes next step

Kathimerini English - - Focus -

The board of the Sin­gle So­cial Se­cu­rity En­tity (EFKA) has ap­proved the body’s new or­ga­ni­za­tional chart as Greece’s main pen­sion and so­cial se­cu­rity fund moves closer to com­ple­tion sev­eral months af­ter it started op­er­at­ing.

The chart should have been ready be­fore EFKA went into ac­tion at the be­gin­ning of the year. The man­age­ment at the fledg­ling fund now has to over­see the im­ple­men­ta­tion of the new or­ga­ni­za­tional struc­ture.

EFKA cov­ers 2.8 mil­lion pen­sion­ers. It also has on its books 3.3 mil­lion in­sured work­ers, 1.9 mil­lion of whom are salaried em­ploy­ees, while the rest are not on pay­rolls. EFKA’s as­sets are worth 8.5 bil­lion euros. It owns 370 prop­er­ties that have a com­bined ob­jec­tive value (as set by tax au­thor­i­ties) of around 750 mil­lion euros.

Kathimerini un­der­stands that some EFKA staff are not pleased with the new or­ga­ni­za­tional chart as they be­lieve that it con­cen­trates power in the cen­tral ad­min­is­tra­tion and takes it away from re­gional ser­vices.

The next step is to es­tab­lish by the end of the year com­mon rules on the pro­vi­sion of ser­vices by EFKA, which was cre­ated through the merger of sev­eral other funds.

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