“Occupational Pension Funds (OPFs) are a robust, long-term institution. For workers, they serve as a vital supplement to the public pension system—strengthening pension adequacy and enabling more citizens to plan their futures with greater security,” said Finance Minister Kyriakos Pierakakis today (18 June 2026) in a speech at the 7th Occupational Insurance Conference.
Bridging Security and Growth
Pierakakis added that OPFs build bridges between citizens’ financial security and the economy’s developmental needs. They link long-term savings to economic growth—and transform individual future planning into collective societal progress.
A Strategic Pillar for Greece
The minister emphasized that expanding the second pillar of pension provision is a strategic national priority. It strengthens the overall resilience of the pension system, fosters a culture of saving, and contributes to building a broader investment ecosystem.
Europe’s Investment Imperative
“Europe needs more investment. It needs greater economic resilience. European savings can—and must—be part of the answer,” Pierakakis concluded.
He noted that the conference theme—tied to the European Union’s Savings and Investment Union initiative—is highly timely. This initiative goes beyond economic policy: it concerns how Europe will bolster its resilience and finance its key priorities over the coming decades.
Europe faces urgent investment needs—in defence and security, energy independence, digital infrastructure, artificial intelligence, and the technologies that will define its competitiveness in the decades ahead. At the same time, demographic shifts make the long-term sustainability of pension systems and retirement adequacy even more critical.
Facing these dual challenges, a central question arises: Who will finance Europe’s future? The answer, Pierakakis stressed, is clear: Europe itself. The Savings and Investment Union is how the EU can invest in its own future—and multiply its strength.
Across Europe, private savings exceed €10 trillion—a vast financial reservoir capable of supporting growth, innovation, and continental competitiveness. Yet with persistent investment gaps and rising financing needs, much of this capital is flowing outside Europe—fueling growth elsewhere instead of at home. The Savings and Investment Union represents a major opportunity to bring European savings closer to European investment opportunities.