This brings us to the current juncture, in March 2017, with the second review in progress and the pension system still high on the reform agenda. Why? Because, despite the numerous interventions outlined above, the system remains costly.
According to the 2017 Budget report, 2/6  BIS central bankers' speeches  State budget transfers to social security funds/EFKA amounted to 7.6% of GDP in 2016 and are expected to reach 9.9% of GDP in 2017 as civil servants’ pensions are now provided by EFKA. This amounts to more than a third of ordinary budget expenditure in 2017.