ECONOMY

One in 3 pensioners live on less than 500 euros/month

one-in-3-pensioners-live-on-less-than-500-euros-month

Almost a third of retirees in Greece collect a monthly pension of no more than 500 euros, while the average income from main pensions in August and September 2018 came to 724.18 euros/month, according to data from the Labor Ministry’s Helios database.

The same data show that auxiliary pensions averaged at 172.32 euros/month and dividends reached a mean rate of 97.84 euros/month.

In total, the sum of main and auxiliary pensions in that period averaged out at 896.5 euros.

As there was no significant change in pensioners’ incomes during 2018, the data again pointed to the major reduction pensioners endured during the bailout period, resulting in 30.41 percent of pensioners (599,943 out of a total of 1,972,214) getting less than 500 euros a month, averaging just 370.17 euros.

Pensioners aged between 56 and 65 received higher pensions than their older counterparts again in August and September.