Greece’s biggest pension fund, IKA, reported increased revenues of 241.2 million euros over the first seven-month period of the year, with the relevant labor ministry taking advantage of the unexpected “windfall” to suspend procedures for extending a loan to the fund.
Previously, a state-backed tranche of 150 million euros was budgeted for IKA, so that the latter could pay social security benefits in September.
According to ministry figures released this week, IKA’s revenues from social security contributions – by wage-earners and employers – in 2016 increased by 241.2 million euros, or 4 percent more than the corresponding period in 2015.
