«Public pensions alone will not be able in the future to ensure sufficient rates of replacement for workers», warned the Governor of the Bank of Greece, Giannis Stournaras, for this reason, as he said, the European Union seeks to strengthen professional pension schemes so as to function complementary to the public system by encouraging long-term savings.
Speaking at the 7th Occupational Insurance Conference entitled «Occupational Insurance at the heart of the European Savings and Investment Strategy»Mr Stournaras pointed out that employee participation remains limited, while the insurance and investment culture in our country has not yet developed to the extent required. At the same time, the small size of many Funds makes it difficult to achieve economies of scale and increases operating costs. That is why a coordinated effort is required by all stakeholders, with a view to strengthening the confidence of employers and insured persons in the institution.
«With just 27 Occupational Insurance Funds and around 55,000 members at the end of 2025, it becomes clear that the institution is still at an early stage of development, despite the significant prospects and potential of the Occupational Insurance Pillar», reported features.
Although both the Active and technical forecasts recorded increases of more than 20% over 2024, overall figures remain limited, as the Asset was set at EUR 621 million and the technical forecasts at around EUR 550 million for 2025.
He predicted that the Occupational Insurance Funds would have a much greater role in the coming years, both as a pension institution and an investment pillar, within borders and at European level.
Source: RES-AE
