ECONOMY

Experts to draft alternative plan for pensions overhaul

experts-to-draft-alternative-plan-for-pensions-overhaul

A team of experts who will draw up a pension reform plan are due to be named this week.

Labor Minister Giorgos Katrougalos said Wednesday the panel will try to devise alternative policies to the ones Greece has agreed to as part of its bailout, which include pension cuts and increases to contributions.

The new set of policies will aim to meet the fiscal targets agreed with the lenders, added Katrougalos.

Greece has pledged to reduce its spending on pensions by 0.25 percent of gross domestic product this year and 1 percent in 2016.

The minister would not be drawn on what alternatives the government will offer.