Pensioners brace for more cuts

Some 900,000 pensioners who until today received at least 1,000 euros per month are bracing for a reduction according to the new social security bill, while a total of 2.6 million people receiving pensions from all social security funds will stop receiving their Christmas, Easter and summer bonuses as of January 1, 2013.

The draft law has only spared those receiving a benefit due to a serious disability. The plan is for pensions up to 1,500 euros to be slashed by 5 percent, those between 1,500 and 2,000 euros by 10 percent, etc, while pensions in excess of 3,000 euros will see 20 percent slashed, although they will not go under 2,550 euros.

The reductions concern pensions paid for any reason (old age, disability or widowhood) and from any source. The cut is calculated on the sum of the main and the auxiliary pension, should that exceed 1,000 euros per month.

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