Greek professional insurance reform bill introduced to Parliament

professional insurance Greece tax incentives open funds portability

The Greek Ministry of Labour and Social Security has submitted a professional insurance reform bill to the Parliament. The draft legislation modernises the second pillar of the pension system by establishing “open” professional insurance funds and open group pension products (OAPES), aiming to broaden access for small enterprises and self‑employed professionals.

Key provisions include full tax deductibility of contributions, a raised contribution ceiling of €35,000 per year for freelancers and 35 % of annual income for employees, and the removal of the tax penalty for late entry into professional insurance. The bill also guarantees full portability of insured rights when changing employment or professional status. Benefit taxation is linked to the age of exit: a 10 % levy on lump‑sum payments and 5 % on pensions for exits between ages 62‑67, reduced to 5 % and 2.5 % respectively after age 67.

The regulatory framework will be supervised by the Bank of Greece, with the oversight of the professional insurance funds shifting to the central bank from 2025. Minister Niki Kerameos highlighted that the reform broadens options for employees and businesses and strengthens the economy, receiving wide stakeholder support.

Entities

Bank of Greece · Greek Parliament · Ministry of Labour and Social Security (Greece) · Niki Kerameos · Open professional insurance funds (OAPES)

Claims

What the coverage asserts, and how many sources carry each claim.

[● 8 SOURCES] The bill provides tax incentives: contributions are 100% deductible and the contribution ceiling is raised to €35,000 per year for freelancers and 35% of income for employees. www.biskotto.gr · www.rethemnosnews.gr · insuranceworld.gr · tharos.gr · olympiobima.gr · +3 more
[● 8 SOURCES] The Bank of Greece will supervise the new professional insurance regulatory framework. tharos.gr · www.biskotto.gr · insuranceworld.gr · olympiobima.gr · www.rethemnosnews.gr · +3 more
[● 8 SOURCES] The bill creates open professional insurance funds and open group pension products (OAPES). www.biskotto.gr · tharos.gr · olympiobima.gr · www.rethemnosnews.gr · insuranceworld.gr · +3 more
[● 8 SOURCES] The legislation eliminates the tax penalty for late entry into professional insurance. www.biskotto.gr · www.rethemnosnews.gr · insuranceworld.gr · tharos.gr · olympiobima.gr · +3 more
[● 8 SOURCES] Minister Niki Kerameos said the reform broadens options for employees and businesses and strengthens the economy. tharos.gr · olympiobima.gr · www.biskotto.gr · insuranceworld.gr · www.rethemnosnews.gr · +3 more
[● 8 SOURCES] The bill guarantees full portability of insured rights when changing employment or professional status. www.biskotto.gr · www.rethemnosnews.gr · insuranceworld.gr · tharos.gr · olympiobima.gr · +3 more
[● 8 SOURCES] The Greek Ministry of Labour and Social Security submitted a professional insurance bill to Parliament. tharos.gr · olympiobima.gr · www.rethemnosnews.gr · www.biskotto.gr · insuranceworld.gr · +3 more
[● 8 SOURCES] The bill links taxation of benefits to age: 10% tax on lump‑sum and 5% on pensions for exits between ages 62‑67; 5% and 2.5% respectively after age 67. www.biskotto.gr · www.rethemnosnews.gr · insuranceworld.gr · tharos.gr · olympiobima.gr · +3 more