Up to 8 bln euros paid in bogus pensions

Up to eight billion euros have been paid in bogus pensions in the past decade, director of the Social Security Foundation (IKA), Rovertos Spyropoulos said on Monday.

Under immense pressure to cut spending and replenish empty state coffers, the Greek government has found out that millions of euros have been paid to deceased claimants. The money is often claimed by fraudulent relatives or, in some cases, it remains idle in banks.

?We are trying to cut back on waste,? Spyropoulos told Skai television on Monday adding that the cutback has already saved the foundation over 700 million euros.

The IKA chief said between seven and eight billion euros have been paid to bogus pensions in the last ten years.

?We will reclaim all that money up to the last euro,? he said.

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