Supervisory Review Process for Occupational Pension Funds (OPFs)
Τhe Bank of Greece, in accordance with Article 58 of Law 5078/23 (Government Gazette Α 211), has developed and implements a “Supervisory Review Process” regarding its supervisory practices and activities. In particular, this process describes the methods, criteria and principles under which the Bank of Greece supervises the proper operation of OPFs and ensures their continuous compliance with the applicable legislation on occupational insurance during their operation and up to their winding up, as well as in the context of their provision of services.
The supervision exercised by the Bank of Greece is based on a forward-looking and risk-based approach, comprises an appropriate combination of on-site and off-site supervisory actions and is proportionate to the nature, complexity and scale of the risks undertaken by each OPF in line with its activities.