An irresponsible Government faces an irresponsible Opposition over Social Security.

Liberal Alliance Press Release 11.02.08

The Greek Government 's proposals for the stabilization of the Social Security Funds, demonstrate the irresponsibility of its approach on a matter of utmost importance given the demographic developments.
The Greek Government appears to have decided to consolidate the multitude of Pension Funds to five or six, subsidize the most indebted Pension Funds with 10% of the reserves of the most profitable ones and the increase of the retirement age.

Liberal Alliance considers that these proposals will not even delay, let alone save from the financial collapse of the -merged or not merged-Pension Funds, as nobody explains why the merged Funds will manage the worker's contributions better than they did, decades until now.

Nobody explains why the consolidated Pension Funds will be better run, since they will be managed by the same Boards who are responsible for the desperate condition of the current Pension Funds.

No one points out that the Boards of the Pension Funds consisted and will continue to consist from party cadres appointed by the Government and from union leaders supported from New Democracy, PASOK, KKE, SYRIZA appointed from the General Confederation of Workers (GSEE) and the Public Workers Union (ADEDY)

More and more citizens understand that the new proposals and the intra-party support for state control over the Pension Funds are nothing more than a mockery: the only benefits of these proposals will be the consolidation of the pilfering of the many small Pension Funds to the looting of the few big Pension Funds.
The opposition parties PASOK, KKE, & SYRIZA, on the other hand, want to continue the plundering of the dispersed Pension Funds, as before…

Liberal Alliance supports the only proposal that will stop 'in their tracks' anybody who intents on pillaging the worker's contributions and this is the abolition of the state-run, defined benefit scheme to a defined contribution pension system managed by the private sector under supervision by a specialised government superintendency. With this system the citizens will be free to choose their Pension Fund (private or state-run) with the only criterion the best returns on their contributions, as they will be free to define the age of their retirement according with the pension contract, they will choose.