"Torture" to receive a pension…

The key measure to reach an agreement with the Troika on labour issues will be the acceptance by the political leaders of the increase of the general retirement age from 65 to 67, which according to the IMF representatives will bring savings of 1 billion euros. This increase will entail the intermediate levels as well, targeting several categories of insured (before 1983, 35 years, mothers) who are still able to retire before 65.

 

The increase of levels from 2013 as required will be "torture" for seniors, who will be looking for work in order to meet the requirements for their retirement. The Insurance Act of 2010 already provides for the increase from 2021 onwards of the overall limits above 65 years of age based on the higher life expectancy.

 

The insurance package will include other harsh measures. In meetings with officials of the ministries of Economy and Labour, the Troika is asking for the implementation of the law that provides for reductions in pensions due to the change in calculation two years earlier, in 2013 instead of 2015.

 

The new way of calculating pensions for retirees from 2015 onwards (with the Troika’s new proposals from 2013) provides for the establishment of a basic pension fixed at 2010 prices at 360 euros for 12 months a year, without adding bonuses and benefits. Compared with today's services, the proportionate pension will be calculated at the sum of life insurance, resulting in reductions mainly for young people reaching 30% - 40% for those who retire after 2030.

 

Officials are also thinking of:

 

-          new cuts in pensions of 1,000 euros or more (cumulatively in main and supplementary ones) from 2% to 10%

-          22% to 35% reduction in the lump sum depending on the fund, and implementation of contribution on those who received it in its entirety from 1995 onwards

-          abolition of bonuses that have replaced the 13th and 14th main pension, and elimination of the 13th and 14th supplementary pension

-          additional cap on pensions of unmarried daughters, increase in the minimum insurance period from 15 to 20 years to establish the right for minimum pension and age limit of 65 years for the issuing of EKAS

 

The struggle of negotiations in labour issues continues, focusing on flexible working hours and compensations. The Troika however, stated that it does not propose to institutionalize the 6-day labour week - which does not exist anywhere else in the EU - but to introduce greater flexibility in the organization of working time to enable the employer to occupy the employee even for 6 days in one week, balancing the hours in the next, without paying overtime.