Introduction to the New Social Security Agreement with Greece

The Social Security Agreement between Australia and the Hellenic Republic (Greece) was signed on 23 May 2007.The Agreement will come into force on 1 October 2008 following an exchange of diplomatic notes between both countries.

Australia and Greece will contribute fairly to the support of people who have spent part of their adult lives working in Greece or living in Australia. The Agreement covers Australian and Greek Age Pensions and people will be able to move between Australia and Greece knowing that their pension rights are recognised in both countries.

Once the Agreement starts, former residents of Australia living in Greece may be able to claim an Australian Age Pension and use periods of insurance in Greece to be counted towards meeting the minimum residence requirements. Similarly, Australian residents with periods of insurance in Greece may be able to qualify and claim for a Greek old age pension by taking into account periods of Australian residence.

The Agreement also includes provisions covering Australia's Superannuation Guarantee scheme, similar to those included in Australia's agreements with Belgium, Chile, Croatia, Ireland, Japan, Korea, the Netherlands, Norway, Portugal, Switzerland and the USA. These provisions will eliminate the need for compulsory contributions having to be made into both countries' systems for seconded workers. The Australian Tax Office will administer these provisions and any enquiries about this should be directed to the ATO on 13 1020.