21 June 2016 Greece's new social security reform discussed The government of Greece is to create a single, Unified Social Security Institution (E.F.K.A.) from January 1, 2017. E.F.K.A will operate as a single administrative and financial organization, very similar to the major European Social Security Funds, and those insured by it will be subject to new and uniform social security rules and contributions and receive unified benefits. The reform also increases the social security contributions rates and makes reductions in monthly pension payments. Important aspects of the new law are expected to be clarified at a later date by the Minister of Labour, Social Security and Social Solidarity. A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details. Document ID: 2016-1077 |
