Pension fund debts are rising fast
Debts to Greece’s Single Social Security Agency, EFKA, are rising at a fast clip, forcing the government to announce that the self-employed, including farmers, with relatively few debts will be able to get a pension; additionally, all the debts which are more than a decade old are canceled.
Total debts to EFKA by individuals and corporations stood at €43.5 billion in June, a rise of €590 million since the end of March. The great majority of this rise, or €410 million, concerns fines due to late payments.
Despite the rise in debts, revenue from past debt settlements is on the rise. Over the first half of 2022, €804.5 million was paid, compared to €992.8 million for the whole of 2021.
Official data show that 381,748 debtors are following agreed debt repayment schedules, most extending over 10 years, for a total owed sum of €4.29 billion.
