Responsibilities and commitments

The responsibility for managing and investing the contributions lies solely to the new Hellenic Auxiliary Pensions Defined Contributions Fund (TEKA). 

The insured person's savings are managed prudently, responsibly, transparently, professionally and with the guarantee of the State. 

To achieve this, TEKA abides by best governance practices, introducing enhanced transparency, accountability, professional governance and management into the social security system. 

TEKA's Board of Directors, which is ultimately responsible for investments, assisted by the Fund’s Investment Committee, designs the investment strategy, sets the acceptable risk margins, approves the Fund’s Investment Regulation and ensures that the Fund is aligned with European Guidelines and Regulations on investments, prudent management, transparency and risk spreading.  

TEKA’s Investments Directorate, staffed with highly qualified professional investment managers, in collaboration with external investment managers, shall implement the defined investment strategy to the best interest of TEKA’s insured persons.

TEKA’s Risk Management Directorate shall be responsible for identifying, monitoring, measuring, assessing and managing the risks associated with the investments. The person heading the Risk Management Directorate shall report directly to the Board of Directors.