By S. Papapetros
Revenues for Greece’s primary pension fund, EFKA, continued to exceed monthly targets for a tenth straight month in October, according to labor and social insurances figures, with the forecast for this year being a surplus of 600 million euros by the last day of 2017.
EFKA was established on Jan. 1, 2017 in order to unify primary social security funds in the country, and is more-or-less a successor to the previous Social Security Foundation (IKA), the biggest private sector fund in Greece for decades.
Based on figures presented by “N”, on an annual fiscal basis, EFKA posted a surplus of 587.07 million euros over the January-October 2017 period; 532.7 million euros over the nine-month period.
EFKA’s revenues up until the last day of October 2017 reached 31.953 billion euros, when the cash surplus totaled 864.71 million euros.
