SYRIZA-PS proposes transforming EFKA into a Social Investment Fund

The SYRIZA-PS political party has proposed a major reform to transform the EFKA (All-time Social Security Fund) into a ‘Social Investment Fund’. The plan aims to change economic policy logic by protecting housing, creating a large reserve of social housing, and building strong assets to secure pensions for current and future generations.

A central component of the proposal is the creation of over 300,000 social housing units and investments in critical infrastructure and public interest enterprises. The party intends to utilize properties currently held in private funds to increase the supply of affordable housing.

The proposal seeks to restore the losses incurred by insurance funds during the 2012 PSI (Private Sector Involvement) debt restructuring, which amounted to approximately 14 billion euros. This restoration would be facilitated through guarantees from the Greek State to EFKA, which would serve as a capital base for a new investment portfolio developed in cooperation with the Development Bank of Greece.