The supervision of the Occupational Insurance Funds will be undertaken by the Bank of Greece from 1.1.2025, in order to ensure the protection of the members and their beneficiaries. This was stated by the governor of the Bank of Greece, Yannis Stournaras, during the presentation of the book by Christos Nounis entitled “The Ecosystem of Professional Insurance in Greece”.

The commander of TtE he underlined that the gradual reform of the pension system requires the strengthening of capitalization pillars, so that both employers and employees themselves can entrust part of their pension income to them.

In this context, he praised the reform that took place in the supplementary insurance of the first pillar, with the creation of the TEKA (Supplementary Capital Insurance Fund) for new entrants to the labor market from the beginning of 2022, with the gradual conversion to the supplementary insurance of the redistributive system in capitalization.

Additionally, he said that this particular reform creates higher supplementary pensions, increases private savings and deepens the capital market. With the figures so far, about 8% of the workforce has joined it, with assets of less than 0.1% of GDP.

Finally, Mr. Stournaras underlined that the design of a successful pension system that will ensure an adequate retirement income for its members and provide a decent standard of living after their retirement, requires the attention and active participation of all involved entities.