Greece has extended the deadline for individuals wishing to switch their supplementary pension insurance from e-EFKA to the new TEKA fund until December 31, 2024. This change allows insured individuals born after January 1, 1987, to benefit from the advantages associated with the new capitalized pension scheme.
The transition to the TEKA system offers key benefits, particularly the potential for long-term investment returns. Unlike e-EFKA, where funds are pooled together, TEKA allows contributions to be separately saved and invested, funding the individual's own supplementary pension.
According to information reported by the Citizens' Guide, "The transfer process to TEKA is simple and fast, via the electronic platform be.teka.gov.gr." This user-friendly platform enables individuals to sign up effortlessly. Those interested can visit the site, log in using their TAXISnet credentials, input their AMKA number, and follow the provided steps.
Since its initiation, the TEKA fund has already seen significant enrollment, with about 500,000 new individuals incorporated over the past three years. This surge comprises new entrants to the job market who are also obliged to join supplementary insurance schemes regardless of age. By November 2024, the cumulative funds gathered from contributions are expected to reach 250 million euros, strengthening the financial foundation of the new system.
The ability to adjust one's pension affiliation signifies not just regulatory change but reflects the wider shift toward more personal financial autonomy for individuals. The enhancements to both access and management of funds are being received positively by many insured persons, as they adapt to changes within Greece's pension infrastructure.
With this shift, the government is aiming to modernize the pension system, making it more efficient and conducive to long-term financial security for the working population. Key to this effort is the realization of the importance of financial literacy and the proactive management of retirement savings, which could mean improved financial resilience for households across the country.
Those who wish to take advantage of this unique opportunity should not hesitate, as the deadline approaches rapidly. Engaging with the TEKA platform can empower insured individuals to take control of their future, maximizing their contributions and securing their financial well-being.
Take action today: visit be.teka.gov.gr to begin the process of transitioning to TEKA and ensuring your contributions are aimed at your personal retirement goals. It’s straightforward, and every step forward is one step closer to financial self-sufficiency.
