Auxiliary pensions to rise by over 50 euros per month

Nearly half a million pensioners stand to enjoy an average increase of 52.2 euros per month to their auxiliary pensions, in accordance with the recent Council of State decisions.

Labor and Social Security Minister Yiannis Vroutsis announced on Monday that 465,112 pensioners will immediately start receiving an annual increase of over 620 euros on average, having suffered a reduction since 2016 based on the Katrougalos law, named after the former labor minister.

Vroutsis said that the law to that affect - which will likely be submitted to Parliament in January 2020 - will have a retroactive application from October 4, 2019, when the constitutional court issued its verdicts.

The annual cost of the auxiliary pension hikes will amount to 292.87 million euros and will be covered by the single supplementary social security fund ETEAEP.