Greece's Social Security Debt Soars by 77.8% in Just 15 Years

A financial time bomb ticks louder as Greece's pension debt swells. With no reforms in sight, will the next generation pay the price?

, and Administrator

2026 February 1 . 3:24 PM

1 min read

The image shows an old Greek banknote with a picture of a man on it. The man in the picture is... — The image shows an old Greek banknote with a picture of a man on it. The man in the picture is wearing a suit and tie and has a serious expression on his face. The text on the note reads "Greece".

Greece's debt to its Social Security Fund (ΤΚΑ) has surged over the past 15 years. New figures reveal a 77.8% increase, with the total rising from €7.2 billion in 2010 to €12.8 billion in 2026. The steady climb highlights long-term financial pressures on the state's obligations to pension funds.

In 2010, the state owed €7.2 billion to the ΤΚΑ. By 2013, under the first term of the Anastasiadis government, this figure had grown to €7.6 billion. The upward trend continued, reaching €8.1 billion in 2018 during the administration's second term.

The total debt has now ballooned to €12.8 billion by 2026, marking an overall increase of €5.6 billion since 2010. Despite this rise, no specific reforms or measures to reduce the debt have been recorded since 2023.

Greece's broader economic picture shows a projected debt-to-GDP ratio of around 93% by the end of 2024. However, the growing burden on social security funds remains a key concern for long-term fiscal stability.

The debt to the Social Security Fund now stands at €12.8 billion, up from €7.2 billion in 2010. Without targeted policy changes, the financial strain on pension funds is likely to persist. The figures underscore the need for future action to address the rising obligations.