ECONOMY

Workers to see salary hikes thanks to contribution reduction

workers-to-see-salary-hikes-thanks-to-contribution-reduction

Some 1,985,000 workers in the private sector will see salary increases early in 2021, as a result of the reduction of social insurance contributions that takes effect this Friday, January 1, Labor Minister Yiannis Vroutsis told Alpha Radio on Monday.

Moreover, several positive changes in the country’s social insurance system are also in the pipeline, he added.

Retroactive pension payouts are another issue that will be settled in the very near future, the minister noted.