TAPETE has evolved. With the creation of TEA–ETE, the National Bank is responding to a long-standing demand from thousands of employees: a modern, regulated fund that combines the security of the past with the possibilities of the future. “This is continuity—not a break,” emphasized Gikas Hardouvelis, Chairman of the Board of Directors of National Bank of Greece, at the 7th Occupational Insurance Conference—and this phrase accurately captures the philosophy behind the new architecture.
Two programs, one clear logic
TEA–ETE operates through two independent plans that address different needs—and together form a comprehensive insurance pyramid.
The first program is based on defined benefits: backed by a guarantee from the National Bank of Greece, it ensures a lump-sum payment corresponding to the pensionable earnings and years of insurance of each employee enrolled in TAPETE as of December 31, 2024. All assets of the old fund are transferred here. This is non-negotiable—the safety net for every employee who has been with the Bank for years.
The second plan looks to the future: it operates on a defined-contribution basis and provides each employee with their own Individual Account. Capital accumulates, returns are added, and the picture is transparent and personalized. Everyone knows exactly where they stand.
What employees gain—specifically
Beyond the continuity of benefits, the TEA–ETE offers three additional advantages worth highlighting:
Employer contributions: The National Bank of Greece also contributes—providing additional insurance coverage at no cost to the employee.
Strict institutional oversight: TEA–ETE is supervised by the Bank of Greece, with clear solvency rules and professional investment management. Employees don’t just have an account—they have an institutionally protected account.
Why this move also carries strategic significance
This transformation is not happening in a vacuum.
The Bank recognizes the need to strengthen the capital pillar as a tool for both social protection and productive investment in the real economy.
For National Bank of Greece, the ETE Pension Fund is a strategic choice: an investment in its human capital using modern tools, fully aligned with the Greek and European regulatory frameworks.