BUSINESS

Retirees will receive their dues in June

ROULA SALOUROU

TAGS: Finance

The raises and retroactive payments due to recipients of main and auxiliary pensions will be paid out in June. They will be be based on the changes included in the Labor Ministry’s draft law, as all 2.8 million main pensions will need to be recalculated after it is passed.

In total, the number of pensioners to benefit from the hikes will come to 1 million, Minister Yiannis Vroutsis told Skai TV late on Thursday. This will be both from the increase in the replacement rates for retirees after 30 or more years of labor and from the adjustment of auxiliary pensions based on the recent verdict by the Council of State.

“There will be a restart to the entire social security system,” Vroutsis stated, declaring that the raises and retroactive dues dating since October 1, 2019 will be paid out in June. He did not rule out any fine-tuning in the final text of the bill to be submitted in Parliament.

 

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