In addition to the basic Social Security Funds, employed persons must also be covered by a supplementary retirement fund. The main funds available to employed persons are the Social Retirement Fund (IKA) and the Employees Supplementary Retirement Fund (TEAM). Employers must register their employees. Registration with the Social Security Authorities applies to both Greek nationals and foreign nationals employed in Greece.
The social security system provides benefits on retirement and in the event of death, sickness and unemployment. Employees are entitled to unemployment compensation for a period of 5-12 months depending on the period for which they were previously employed and during which they contributed to the Social Security Funds and their age.
Persons insured by IKA for at least 140 working days are entitled to medical treatment by IKA doctors free of charge and dental treatment at a reduced cost. Medicines prescribed by doctors may generally be obtained free of charge.
In addition to the above, an insured employee is entitled to collect a sickness benefit. The maximum sickness benefit paid by IKA is adjusted regularly based on the maximum monthly remuneration on which Social Security is payable. In case of sickness, the employer is obliged to pay up to a one month's salary to each employee. However the amount payable by the employer is reduced by the relevant amount paid by the Social Insurance Fund.
Any employee injured or disabled while at work is entitled to compensation and/or a disability pension for the period of absence from work, irrespective of the period previously employed.
A lump sum benefit is payable upon the birth of a child. The benefit is payable to the husband when the mother is not insured. In addition, the insured mother is entitled to a maternity leave of 16 weeks: 56 days preceding the expected date of delivery and 56 days following, in respect of which she will receive a benefit determined in the same manner as for the sickness benefit.
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