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*Indicative tax rate 23%.
*Depending on your tax residency there may be additional tax benefits
**Indicative average rate of return 3%.

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May I have the right to join OPF?

According to Article 4 of Incorporation, the following can join the OPF optionally:

  1. Personnel under a contract or employment relationship of any duration, type and form, and regardless of the type, mode and place of their job, of the company under the name Tsakos Shipping and Trading S.A. (hereby the employer company).

  2. Managing Directors and other members of the Board of Directors of the Employer Company from the date of their recruitment or appointment.

  3. Under contract or relationship of independent service or project staff, lawyers with a relationship or mandate contract, as well as external associates of Tsakos Shipping and Trading S.A.

  4. Managing Directors and other members of the Board of Directors, the under contract or employment relationship of any duration, type and form and irrespective of the type, manner and place of provision of their work personnel of companies belonging to the group of Tsakos Group, as well as the under contract or employment relationship of independent services or project employees or employees of Tsakos Group.


What amount do I have to pay and what contributions does the employer undertake?

Every insured member under the Fund may pay a monthly contribution (regular insured contribution), the amount of which may not be less than €30 and not more than €5,000 (U.S.Dollar Equivalent).

The insured member may change the contribution at any time, as he/she wishes. There is no specific limit for extraordinary contributions.

The employer company Tsakos Shipping and Trading S.A. pays for each insured person referred to in Article 4 par. a, every month a regular employer contribution comprising 1% of his/her monthly salary (net remuneration).

It is noted that if a regular employer's contribution is not paid, a regular monthly employee contribution is required.


Is there a right to pay special contributions?

Under Article 20 of incorporation, both the insured person and the employer are entitled to a special contribution.


How can I change my contribution as an insured?

You have the right to change the regular insured contribution whenever you wish, with the effect of the change from the next payroll.


Where is my money saved?

In deposit and investment bank accounts in Greece, Cyprus and Luxembourg in euro/USD.


What happens if I need part of my investment?

Provision is made for facilitating members’ needs through a bank institution.


How do I get informed on the progress and status of my funds?

Your personal e-code gives you immediate access and full information at any time, on your investment share.


When do I qualify to receive my pension benefit?
Every insured person under the Fund shall be entitled to receive the pension benefit if he/she meets any of the following conditions:
    - Is retired due to old-age or invalidity from its main insurer.
    - Reaches the age of 54, having been insured for at least 8 years under the Fund.
    - Reaches the age of 58, having been insured for at least 4 years under the Fund.
    - Reaches or exceeds the age of 62 years, having been insured for at least 2 years under the Fund.
    - Regardless of the age limit, if he/she has been insured for more than 10 years under the Fund.
    - In the event of death, in which case the benefit is reimbursed to the beneficiaries as defined by the insured.


What happens with my rights at OPF in case I change company or profession?

In the event of changing company within Tsakos group, the insurance will normally continue at OPF. If you leave the Tsakos group, you have the following rights:

    - Transferring your rights to another Professional Insurance Fund within Greece or the EU.
    - Receiving your pension benefit if the relevant conditions of Article 25 of Incorporation are met.
    -In case of retirement from a Principal Insurer, the right to remain in the Fund's insurance (optional continued insurance) is granted upon a written request by the person concerned, which should be approved by the Board.


Who covers the management costs of TEA?

The annual regular or special operating expenses of the Tsakos Fund are fully covered by the employer i.e. Tsakos Shipping and Trading S.A., with no insurers' participation.