ECONOMY

Social security contribution subsidy is increased

social-security-contribution-subsidy-is-increased

The Finance Ministry draft law debated on Wednesday in Parliament has had an amendment incorporated providing for the increase of the state subsidy to employer social security contributions to 100% for workers who enter the Labor Ministry’s Syn-Ergasia program from July until the end of the program on October 15.

This concerns workers who have had their contracts suspended or reduced to part-time employment after the resumption of their enterprise’s operation.

It also provides for the extension of the option for suspending labor contracts to the sectors of tourism and transport for the months of August and September, as had been announced about a month ago.

The same amendment further increases the temporary pension – handed out to retirees until their full monthly benefit is permanently issued – for those who have applied for a pension since 2016. The temporary pension is growing from 50% to 80% of each retiree’s average monthly takings and to 70% of the average monthly income of the retirees’ last 12 months of labor before the submission of the retirement application.