Institutions want big cuts in pensions, Labour ministry sources say

Greece’s lenders demand big cuts in main pensions, sources from the Labor ministry said on Thursday, following a teleconference between ministry officials and the technical teams of the institutions on social security reforms.

Apart from the cuts, the representatives of the institutions expressed openly their disagreement with the replacement rates included in the government’s proposals, which they consider excessively high.

They also asked ministry officials to provide clarifications for some elements of the draft bill, as well as data on the national pension.