New round of pension cuts commences on Tues.

Monday, 01 August 2016 13:17
SOOC/Alexandros Michailidis
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By S. Papapetros

A new round of decreases in supplementary pensions begins on Tuesday via the recalculation, downwards, of both primary and supplementary monthly social security benefits.

The decreases emanate from recently passed legislation by the leftist government, which aims to cut social security spending in Greece in a bid to meet memorandum-mandated fiscal targets through 2018.

Decreases are “on the menu” in case the sum total of an individual's primary and supplementary pensions exceeds 1,300 euros a month. All types of pensions will be included in the calculation, i.e. age, disability, bereavement etc., as well as every type of bonuses.

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