Pension Funds Creation

Professor Dr. K. Kremalis, as a team coordinator of the Law Department (Athens University), assisted by Law Firm members, participated in the Social Security Reform Committee of Experts, which prepared the Law regulating Occupational Pension Funds (art. 7 and 8 Law 3029/2002).

The easy access of KREMALIS-Law Firm to national and foreign law sources was the reason that the “Pan-Hellenic Confederation of the Employees in the Public Financial Services” assigned us with the establishment of the “Occupational Insurance Fund of the Ministry of Finances”. Thousands of persons beneficiate directly or indirectly of the health coverage provided by this fund.

Furthermore, following the successful participation in a competition, the law firm was asked to establish an Occupational Pension Fund for the personnel of the “Greek Post Offices” (services of general economic interest). Contrary to the previous scheme, which has been created at the employees’ initiative, this one was made at the employer’s initiative. It concerns lamp sum insurance benefits and follows the paritarian principle of administration (employer’s and employees’ representation). It is the first private insurance institution with such a structure in Greece.

KREMALIS-Law Firm prepares statutes, internal regulations and other official documents for the establishment of new Occupational Insurance Funds and coordinates the particular services for the function of this kind of Funds through vertical or horizontal contractual relationships (outsourcing). Just before the establishment of the “Pan European Occupational Funds”, which is very significant for high profile companies and qualified organizations at international, European and national level, the law firm has developed the necessary know-how, so that Greece becomes a receiving country for establishing, administrating or investing Occupational Pension Funds.