Plans for universal 20% main pension contribution
The Ministry of Labor, Social Insurance and Social Solidarity is considering setting the monthly contributions for main pensions to 20%, similar to the way IKA operates, while increasing the contributions of sectors which have been reduced.
In the case of IKA pensions, employers pay 13.33% of the monthly contributions, while the policy holder paid in the remaining 6.67%. According to the plan, this 20% system would apply to main pensions for the self-employed, scientists and (gradually) farmers.
The main difference however would be that there will be two compulsory insurance premiums (a low and a high one), which will be associated to the policy-holder’s real income.
The Ministry’s ambitious plan, which will be presented to the country’s creditors, was developed within the framework of establishing ‘universal rules’ on pension contributions and benefits.
You may be interested
Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greecemakis - Nov 17, 2017
Turkish Deputy Prime Minister Bekir Bozdag accused Greece of imprisoning Muslim Imams, despite the country being a member of the…
Greek PM says country would rely on itself to face flood disastermakis - Nov 17, 2017
Greek PM Alexis Tsipras thanked European countries for offering to help after the flash floods in western Attica, Wednesday, which…
US meteorologist explains deadly storm that flooded Greek townsmakis - Nov 17, 2017
“When the Atlantic hurricane season begins to quiet down in late October and November, it’s time to cast an eye…