Auxiliary pensions unlikely to hit 100 euros 12 years from now

Auxiliary pensions have been in steady decline for some time now and are likely to shrink even further, to less than 100 euros a month, according to a scientific study seen by Kathimerini.

The study, which was supervised by Panteion University Professor Savvas Robolis, contains some startling data regarding the future of auxiliary pensions. The most most shocking finding, however, is a scenario which sees the average monthly auxiliary pension dropping to below 100 euros gross - from the current average of around 170 euros per month after constant cuts - due to a projected spike in baby boomer retirements in the 2023-29 period and an aging population, combined with the new system auxiliary social security introduced last year.

According to the study, auxiliary pensions were paid out to 1.65 million recipients last month, with annual spending reaching 2.7 billion euros....