Greece
Worked in Greece? Any pension you built up here is yours to keep and can usually be paid to you abroad — but you have to claim it; it won't start automatically. The full state pension age is 67, with early access from 62. On totalization, Greece has bilateral totalization agreements, so the years you worked here may combine with other countries you've worked in. Below is Greece's system at a glance and what expats should check.
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Overview
Greece operates a multi-pillar social insurance pension system administered primarily by e-EFKA (Electronic National Social Security Fund), the unified successor to all former Greek social insurance funds. The mandatory first pillar consists of two components: a flat-rate National Pension (state-financed, currently €436.30/month as of January 2025 after a 2.4% increase) and an earnings-related Contributory Pension (PAYG defined benefit, based on contributions from 2002 onwards). The standard retirement age is 67, with early retirement possible at 62 with 40 years of contributions. The system underwent sweeping reforms during the 2010–2016 fiscal crisis, resulting in fund consolidation, reduced benefits, and higher contribution ages.
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A second mandatory supplementary pillar exists in two parallel tracks: the legacy e-EFKA supplementary branch (DB/NDC hybrid for those insured before 2022) and the new Hellenic Auxiliary Pensions Defined Contributions Fund (TEKA), which became operational in January 2022 and is mandatory for all new labour market entrants from 1 January 2022 and all persons born on or after 1 January 2004. TEKA operates as a fully funded DC scheme with individual accounts managed professionally, and the state guarantees return of contributions in real terms. Voluntary occupational pension funds (Pillar 2) and individual private insurance arrangements (Pillar 3) supplement the mandatory system.
Greece has one of the highest gross pension replacement rates in the OECD, at approximately 80% for average earners (OECD Pensions at a Glance 2025). Pension indexation, frozen during the crisis years, resumed from 2023 onwards using a formula of min(CPI, 50% CPI + 50% GDP growth), and from 2025 onwards past earnings valorisation switches from CPI to wage growth. Greece also offers a highly attractive 7% flat tax regime for foreign pensioners who transfer their tax residence to Greece, valid for up to 15 years.
~80% for average earner (OECD Pensions at a Glance 2025); net replacement rate exceeds 85%
Pillar 1a: e-EFKA National Pension (flat-rate, state-financed, mandatory); Pillar 1b: e-EFKA Contributory Pension (PAYG DB/NDC, mandatory); Pillar 1c: Supplementary Pension — e-EFKA branch (DB/NDC, legacy) or TEKA (funded DC, mandatory for new entrants from 2022); Pillar 2: Occupational Pension Funds (voluntary DC); Pillar 3: Individual private pension insurance (voluntary)
Bismarckian social insurance: flat-rate national pension + earnings-related contributory pension (PAYG DB/NDC) + mandatory funded supplementary DC (TEKA)
Employee
13.37% total (2025): 6.67% primary pension + 3% supplementary + 2.05% health + 1.65% other branches
Employer
21.79% total (2025): 13.33% primary pension + 3% supplementary + 4.05% health + 1.41% other branches
Self-Employed
Fixed monthly amounts by insurance category (6 categories + 1 special for new entrants); not linked to declared income since 1 January 2020. Categories chosen annually and independently per insurance branch. Increased from 1 January 2025 per ministerial decision.
Notes
Monthly insurable earnings cap: €7,572.62 from 1 January 2025 (up from €7,373.53 in 2024). Cap adjusted annually by CPI (up to 2024) and by wage growth index (from 2025). Total social security contribution rate reduced from 36.16% to 35.16% from 1 January 2025, with reduction coming from health insurance branch (employee health: 2.05%, employer health: 4.05%). TEKA contributions (3% employee / 3% employer) are paid separately with a distinct payment ID.
Common questions
What is the retirement age in Greece?
The full state pension age in Greece is 67. Early retirement may be possible from 62.
Can I claim a Greece pension if I live abroad?
Yes. A pension you've earned in Greece stays yours wherever you retire, and can usually be paid into an overseas account once you reach pension age. It won't start automatically, though — you need to claim it, typically a few months in advance, through Greece's pension authority.
Do totalization agreements affect my Greece pension?
Greece has bilateral social-security (totalization) agreements. These can let you combine the years you worked in Greece with years in partner countries to meet a minimum qualifying period, so short stints aren't wasted. Which partners and rules apply depends on your own work history.
How is the pension system structured in Greece?
Bismarckian social insurance: flat-rate national pension + earnings-related contributory pension (PAYG DB/NDC) + mandatory funded supplementary DC (TEKA) Pillar 1a: e-EFKA National Pension (flat-rate, state-financed, mandatory); Pillar 1b: e-EFKA Contributory Pension (PAYG DB/NDC, mandatory); Pillar 1c: Supplementary Pension — e-EFKA branch (DB/NDC, legacy) or TEKA (funded DC, mandatory for new entrants from 2022); Pillar 2: Occupational Pension Funds (voluntary DC); Pillar 3: Individual private pension insurance (voluntary) It includes 5 schemes in our directory.