Greeks’ Pensions Could Drop to €620 a Month in Four Years Time

Thursday, June 29th, 2017
Last Update: 11:00

Pensions in Greece have decreased substantially over the last few years as the financial crisis has dictated the government’s commitments to its foreign lenders as part of the bailout program and according to data from the midterm fiscal plan that government recently passed, it is only going to get worse for pensioners.

In just four years time the average main pension will amount to only 620 euros per month while supplementary pensions will amount to a mere 144 euros a month, the data concluded.

The Group for Social and Labor Rights (OKED) has conducted a study headed by professor Savvas Robolis where the expected pension expenditure in 2021 was examined and found that although the government recently pledged to its creditors that Greece’s pension expenditure would be reduced by 3.1 billion euros, the study revealed that actual expenditures on pensions will be reduced by 5.7 billion euros.

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