Niki Kerameus pledged full portability of social security rights from one fund to another. [INTIME NEWS]
The government is preparing legislation for the creation of open Professional Social Security Funds (TEA), giving access to smaller businesses and freelance professionals, Labor and Social Insurance Minister Niki Kerameus told Kathimerini in an interview.
The new institutional framework will also provide small businesses and professionals with tax incentives to make this form of second-pillar social security more attractive. They will operate as “umbrella” funds: “Imagine, for example, banks offering professional insurance funds to all their business clients,” said the minister, explaining the application of the new funds.
Kerameus added that the ministry will institutionalize and ensure full portability of social security rights from one fund to another for workers changing sectors, and create a new standard group pension product, the so-called OAPES, i.e. Group Occupational Retirement Social Security Product.
The minister also referred to data according to which the employment of retirees and the digital labor card have brought an excess of revenue of over €800 million to the Single Social Security Entity (EFKA) and leaves open the possibility of further reduction in social security contributions as compliance in the labor market strengthens.
