BUSINESS

Pensioners’ network lists 23 cuts inflicted on benefits

ROULA SALOUROU

TAGS: Finance

At least 23 cuts have been inflicted on pensioners since 2010, with losses adding up to more than 50 billion euros. For some, their benefits have fallen by as much as 50 percent.

The United Pensioners network has just added a 23rd cut to its list – the reduction of up to 18 percent of main and supplementary pensions agreed by the government this week. Network chief Nikos Hatzopoulos says the cuts have impoverished pensioners. The other 22 cuts on the list are as follows:

- In 2010, Christmas, Easter and holiday bonuses ended.

- In 2011, all pensioners under the age of 60 took a 6-10 percent cut.

- In the same year, pensioners were also slapped with a solidarity levy ranging from 3 to 13 percent for monthly pensions over 1,400 euros. Also cuts to supplementary pensions started, from 3 to 10 percent.

- Main pensions to under-60s were slashed in 2011 and supplementary pensions of more than 150 euros a month fell by 15-30 percent.

- From January 2012, there were fresh cuts to any “high” pensions not affected until then.

- In 2012, monthly pensions over 1,000 euros were hit with a new cut.

- Summer 2014 saw a 5.2 percent cut to all supplementary pensions.

- In 2015, minimum pensions fell.

- In the same year, all early retirements incurred a 10 percent cut.

- From last May, all new pensioners wre informed they would get up to 30 percent less.

- Some 250,000 supplementary pensions fell by up to 40 percent.

- The EKAS benefit to 160,000 low-income pensioners was ended.

- Civil servants’ share fund dividends were slashed 45 percent.

- High pensions took a retroactive cut from late 2016 to end-2018.

- Widows’ benefits fell and stricter criteria were introduced.

- The pensions of people with employment were slashed 60 percent.

- Early retirees took big cuts.

- Retirement lump sums shrank 15-20 percent.

- New disability pensions were slashed last May.

- The healthcare levy on main pensions rose.

- A similar 6 percent levy was imposed on supplementary pensions.

- Since January, 650,000 farmers have had to pay a 14 percent income levy.
 

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