Pen­sion cuts from 2019 will amount to 14 per­cent

Kathimerini English - - Focus -

One mil­lion re­tirees can ex­pect to see their monthly pen­sion drop 14 per­cent in 2019 as a re­sult of the agree­ment the gov­ern­ment reached last year with the coun­try’s creditors re­gard­ing the so-called per­sonal dif­fer­ence (the gap be­tween the pen­sion as cal­cu­lated ac­cord­ing to the old method and that us­ing the new cal­cu­la­tion sys­tem).

The pre­cise rate of the cuts be­came pub­lic for the first time yes­ter­day, with the is­sue of the Euro­pean Com­mis­sion’s re­port on the course of the third bailout pro­gram.

Also yes­ter­day Deputy La­bor and So­cial Se­cu­rity Min­is­ter Ta­sos Petropou­los is­sued a cir­cu­lar that opens the way for the re­tire­ment of thou­sands of peo­ple who due to the high un­em­ploy­ment of the last few years have not worked enough years since 2002 for them to have their pen­sion cal­cu­lated – given that the law in­tro­duced last year pro­vides for the cal­cu­la­tion of pen­sions based on salaries since 2002.

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