July 1, 2022

Compulsory insurance TEAs

Pursuant to Article 36 of Law 4052/2012 (Government Gazette, Series I, No 41), and under specific conditions, the Supplementary Insurance Funds were given the possibility of being exempted from inclusion in the Single Supplementary Insurance Fund (ETEA) established by the above law and being automatically converted into legal persons governed by private law providing compulsory insurance, pursuant to Articles 7 and 8 of Law 3029/2002.

Subsequently, four (4) Occupational Compulsory Insurance Funds were established in order to provide a monthly pension to cover the risks of old age, and death. These funds are in insurance, pharmaceuticals, food trade and petroleum. More specifically, these Funds are:

  1. the Occupational Insurance Fund for Assistance to Insurers and Personnel of Insurance Companies (TEA-EAPAE, a legal person governed by private law), Ministerial Decision No Φ51020/4883/105/21.2.2013 (Government Gazette, Series II, No 411), and amendment (Government Gazette, Series II, No 3810) of 30.10.2017;
  2. the Occupational Insurance Fund for Pharmaceutical Employees (TEAYFE, legal person governed by private law), Ministerial Decision No Φ.51020/5352/121/21.2.2013 (Government Gazette, Series II, No 412) and amendment (Government Gazette, Series II, No 245) of 6.2.2014;
  3. Occupational Insurance Fund for Food Trade Employees (TEAYET, legal person governed by private law), Ministerial Decision No Φ51020/5054/113/21.2.2013 (Government Gazette, Series II, No 410);
  4. Supplementary Occupational Insurance Fund for Personnel of Petroleum Companies (ETEAPEP, legal person governed by private law), Ministerial Decision No Φ.51020/5358/123/21.2.2013 (Government Gazette, Series II, No 409) and amendment (Government Gazette, Series II, No 2525), of 29.6.2018.

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