Pension funds have debts of EUR 46 billion

Exceeds to120% of the social expenditure budget debts with which they are burdened insurance institutions.

According to the available data, the total debt of these entities amounted to 46 billion euro.
This volume of debt is not “independent”, but seperated into three main categories.

1. The debt to third parties (members, suppliers, government)
2. The debt which insurers own to other bodies (eg. Social Insurance Institution or Supplementary Insurance Unified Fund).
3. The debt which have employers and self-insured to insurers.

More specifically, the “X-ray” of insurance… debt is as follows:

• € 20 billion is the total overdue debts of 628.000 employers and self-employed to social security funds for contributions. € 15 billion of this debt owed by 280,000 debtors which, owing amounts over € 5000.
• Almost € 2.8 billion owed by state insurers and mainly “National Agency for Health Care Facilities” (€ 1.8 bn.) and “Welfare Fund for Public Employees” owed about € 650 million to its members and this debt relates to sickness and amounts one-time, respectively.
• Also € 5.7 billion owed in arrears by “National Agency for Health Care Facilities” to health care providers and to general government (public hospitals).
• Pension funds owe € 2-2.5 billion to policyholders who have not yet received their pension. It is estimated that over 300,000 are the pending requests for main and supplementary pensions (not including one-time paid owed to officials by government).
• It’s a sick joke! Insurers bodies owe approximately 12.5 billion… to other insurers bodies. The main insurers owe 1 billion to the Supplementary Insurance Unified Fund
• Insurers owe about 1.5 billion to “National Agency for Health Care Facilities”.
• “Social Insurance Institution” (IKA in Greece) owe nearly 10 billion to “Manpower Employment Organisation” (OAED)