NEWS

Navy chief sounds alarm over retirement pay tax

The Chief of the Hellenic Navy General Staff, Kosmas Christidis, has written to the Defense Ministry to ask for clarification regarding reports of a big rise in taxation on lump sum retirement pay, which could lead to those leaving service earning 45 percent less than they had expected.

Christidis said that such a measure could lead to a wave of early retirements in the navy.

In his letter, the vice admiral said that wage cuts had already “affected the morale of servicemen.”