EKAS Allowance for Low-Pension Retirees to be Cut by 50%

Wednesday, December 21st, 2016
Last Update: 12:44

On Wednesday it was published by the government gazette that the EKAS allowance for low-pension retirees will be cut by 50 percent.

The decision was taken by alternate Finance Minister Giorgos Houliarakis and deputy Minister for Social Security Tasos Petropoulos in efforts to reduce EKAS budget spending costs for 2017 by 421 million euros, sources have reported.

The country’s foreign lenders have also been very outspoken in favor of phasing out the pension “top-off” bonuses in Greece from which some 250,000 retirees benefit.

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