Bleak future for pension system

The rapid aging of the Greek population, the constant reduction of public expenditure on pensions and the ever-changing nature of labor with the strengthening of flexible forms of employment, are painting a very grim picture for the future of state benefits and in regards to growing inequalities among aged people in Greece.

The latest report on pensions by the Organization for Economic Cooperation and Development (OECD) is both revealing and disheartening, as it shows that in the not-so-distant year 2050, there will be 73 pensioners for every 100 workers.

At the same time the drop in state spending on the pension system continues, after it soared by 67.6 percent in the period from 2000 to 2013, from 10.4 percent to 17.4 percent of gross domestic product. State spending dropped to 16.2 percent in 2015 and is expected to fall to 15.5 percent in 2020, to 15 percent in 2025...

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