ECONOMY

Thousands of pensioners in for raises

thousands-of-pensioners-in-for-raises

Some 200,000 pensioners will receive significant raises as well as retroactive dues after delays of more than 20 months, probably after Easter.

The publication of the final ministerial decision on the issue paves the way for the recalculation of pensions based on new coefficients for those with more than 30 years of insured labor, leading to pension raises for some 150,000 older pensioners.

Another 50,000 freshly retired pensioners, whose pensions were issued after the so-called Katrougalos Law on social security was passed in 2016 will also see their pensions rise gradually.

Social Security Minister Kostis Hatzidakis clarified that priority is being given to the payment of deposits to those whose applications have been outstanding for up to five years.

All of the above pensioners have been waiting for over a year for the implementation of more recent legislation that corrected reductions brought by the Katrougalos Law and deemed unconstitutional. According to ministry officials, any retroactive payments due to pensioners for the period from October 2019 (when the Council of State verdict came out) until the adjustment will be paid in a lump sum.