A proposal to restructure the pension regime in the Greek banking sector has been approved by the European Commission (Commission), who concluded that the measures fell outside the EC State aid rules. The proposal aims to consolidate the supplementary pension scheme which, depending when employees were recruited, is shared across several insurance bodies. Once implemented, banks will be able to opt for their insurance company to join the general social security body, known as ETEAM. France has also received approval from the Commission regarding its proposals to reform pensions for workers at La Poste. Since 1990, La Poste’s pension scheme has not been in line with the ordinary arrangements of a pay-as-you-go system. The reform will mean La Poste has to pay an employer’s contribution at a competitive rate and will become an ordinary competitor on the pensions market. Although the reform was found by the Commission to constitute State aid, the Commission’s investigation found that the scheme goes no further than necessary to establish a level playing field in relation to social security contributions and tax.