"Can the Greek Social Security System be Sustainable and Provide Adequate Benefits?”

PRESS RELEASE

 Athens 26 February 2016

The American-Hellenic Chamber of Commerce, in its effort to contribute effective solutions to form a sustainable, modern and predictable social security system, is proud to host a targeted, solutions-based conference: “Can the Greek Social Security System be Sustainable and Provide Adequate Benefits?” This key event materializes from the exceptional efforts of the Insurance, Social Security and Labor Affairs Committee of the Chamber and will be held March 30, 2016 at the Hotel Grande Bretagne (Golden Room).

Purpose of the event is to seek solutions for the burning issue of social security through consensual and realistic proposals. Besides briefing the participants on the (usually known) financial and other reasons that impend the national social planning, well founded proposals will be submitted and feasible measures will be sought that could contribute to the consolidation of a pension system within the framework of a sustainable and consensual national strategy.

The President of the American-Hellenic Chamber of Commerce Mr. Simos Anastasopoulos stated:

«This year's conference will take place at an extremely crucial time for the country, during which structural reforms continue to take place such as pension and labor reform. It is indeed expected any such reform to cause tensions, especially when it is being made in a stressful environment and under conditions of fiscal pressing for the population. Nevertheless, these reforms are necessary for the sustainability of our social security system, for the consolidation of a sense of security to employees, for ensuring the necessary reciprocity and, above all, for the enhancement of the competitiveness of the Greek economy. It is therefore essential all involved parties to leave behind timeless political considerations and failures, to join forces having as a common objective the good of the citizens and of the country, and to proceed, in mutual understanding, with highlighting mutually beneficial solutions through constructive and productive cooperation ».  

The Chairman of the Insurance, Social Security and Labor Affairs Committee of the American-Hellenic Chamber of Commerce Professor Dr. Konstantinos Kremalis underlined:

«It is undoubtable that the issue of direct and comprehensive restructuring of the social security system dominates the headlines during the last period, given that its consolidation is directly associated with servicing the national debt and the needed fiscal adjustment, which is required by the arising under the Memorandum agreed obligations.

However, such restructuring requires a drastic and radical settlement of one of the inherent weaknesses that the national social security system over time has shown, namely its financing.

Planning new ways of financing the system and choosing proper management practices of the insurance funds are the current challenges that the reformer of the national social security system has to face, as his actions should aim not only at ensuring sustainability, but also at maintaining a sufficient level of benefits which the community of insurers and pensioners will enjoy in the distant future.

These challenges will be subject of the conference discussion, aiming at an active and fruitful participation of all involved parties and their common contribution in a national issue of strategic importance concerning intergenerational equity and solidarity».

Moreover, with great interest is expected at the end of the conference the open discussion, in which representatives of employees and employers, representatives of research institutions will participate and, will be coordinated by the Chairman of the Insurance, Social Security and Labor Affairs Committee, Hem. Professor of Social Security Law of Athens Law School Mr.  Konstantinos Kremalis, where they will discuss about the national issue of social security in order to detect consensual solutions that will help solve that thorny issue.