The surplus of EFKA is expected to exceed one billion euros by the end of the current year, according to a report by “Apogeumatini”. This significant increase stems from enhanced employee incomes, combined with increased social security contributions from overtime, extra work, night shifts, and holiday work.
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EFKA surplus: impressive revenue increase from social security contributions
Revenue from additional employment benefits shows a 34% increase compared to the corresponding four-month period, when at the beginning of the year the increase was only 1.5%. This dramatic change demonstrates the effectiveness of the new measures implemented. During the first four months of overtime legislation implementation, compensation increased by 48%, while revenue from overtime and extra work social security contributions strengthened by 34% compared to the corresponding period in 2024.
In May 2025, earnings from overtime and extra work showed a 55% increase compared to May 2024. Meanwhile, social security contributions from these categories strengthened by 38%. Compensation for night shifts and holidays increased by 32%, with corresponding social security contributions recording a 55% rise. In June 2025, the upward trend continued with overtime earnings increasing 54% and social security contributions by 39%. Night shifts and holidays showed a 31% earnings increase, while related social security contributions strengthened by 56%.
Total revenue reaches €27.31 billion by end of July
Before March 2025, when the new measure came into effect, social insurance fund revenue from additional employment benefits represented only 1.5% of total income. Workers continue to receive the same bonuses:
- 20% for extra work
- 25% for night shifts
- 40% for overtime
- 75% for holidays
According to official EFKA budget data, at the end of July total revenue for the main insurance branch and other benefits reached €27.31 billion, compared to €26.41 billion in the corresponding period of 2024.
New initiatives to improve collection
An extensive international tender is scheduled for the near future to integrate private companies into the social security debt collection process. After completing this procedure, the Ministry of Labor is expected to institutionalize debt settlement options, adapted to each debtor’s financial capabilities. Over the past six years, the government achieved a horizontal reduction in non-wage costs by 5.4 percentage points, one of the largest achieved by any European Union member state. This policy contributed to creating 500,000 new jobs. Labor Minister Niki Kerameos highlights the positive first-quarter data, which provides the best proof that targeted non-wage cost relief returns multiple benefits to workers, businesses, and social insurance funds, benefiting the entire labor market.
