January pensions to see 5-20 percent reduction

Retired Greeks will see their pensions reduced by between 5-20 percent depending on their pay scale as measures to curb state spending and meet targets set by the country’s creditors start coming into effect this month.

The plan is for pensions up to 1,500 euros to be slashed by 5 percent, those between 1,500 and 2,000 euros by 10 percent, etc, while pensions in excess of 3,000 euros will see 20 percent slashed, although they will not go under 2,550 euros.

The unwed or divorced daughters of civil servants receiving pensions will see the amount reduced to a maximum of 720 euros per month, while they may even see a complete abolition of their pension if they declare an income from other sources up to or above that amount, Skai reported on Wednesday.