New retirees suffer big cuts

7 April 2017
917 Views

A circular issued on Thursday by the Labor and Social Security Ministry opens the way for the long-anticipated payment of outstanding pensions but also provides for an average cut of 15-20 percent to the pensions of those who retired after May 13, 2016, when the new
legislative framework cleared Parliament, according to kathimerini.

Despite the small bonus (between 3 and 5 percent) coming from the calculation of pensions using the Consumer Price Index instead of a mathematical formula, the cuts are considerable for those 55,000-60,000 retirees, and in some cases reach up to 35 percent.

You may be interested

Poll: New Democracy leads with a 14.8% difference to SYRIZA
POLITICS
shares22 views
POLITICS
shares22 views

Poll: New Democracy leads with a 14.8% difference to SYRIZA

makis - Jun 24, 2021

The governing party of New Democracy is clearly leading the polls with 37%, a difference of 14.8% from SYRIZA which…

Greece and Italy top European picks for American tourists
GREECE
shares24 views
GREECE
shares24 views

Greece and Italy top European picks for American tourists

Panos - Jun 24, 2021

Italy and Greece are the top two choices in Europe for American travellers this season, according to a report by…

Turkish coastguard harassed Cypriot fishing boat (photos)
GREECE
shares28 views
GREECE
shares28 views

Turkish coastguard harassed Cypriot fishing boat (photos)

Panos - Jun 24, 2021

New provocation from Turkey. Turkish coastguards harassed the fishing boat “Maria – Bouboulina”, while sailing in international territorial waters. The…

Leave a Comment

Your email address will not be published.