Pension funds owed 11 bln euros in contributions

Social security funds are owed a record 11 billion euros in contributions by firms and self-employed workers, endangering the viability of the pension system and paving the way for new cuts to pensions, Labor Ministry statistics show.

According to ministry figures, the 11 billion euros in social security contributions are owed by some 802,000 businesses and individuals.

The example of the social security fund for self-employed professionals, known by its acronym OAEE, is telling. Out of its 874,000 insurees, less than half – some 434,000 -- paid contributions in the first half of 2011.

The farmers’ pension fund (OGA) only received 155 million euros out of the 350 million euros it was supposed to receive in the first six months of last year.

The problems are not limited to funds insuring the self-employed. There also have been delays in the payment of contributions of salaried workers, according to the ministry. Some 400,000 employees have seen the payment of their wages delayed by between one and five months, and correspondingly the social security payments. 

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