Single Auxiliary Social Security Fund

Greece’s Single Auxiliary Social Security Fund (ETEA) has told the Labor and Social Insurance Ministry it is planning to cut auxiliary pensions by 5.2 percent as of July 1, a move which will affect over 1 million pensioners from the public and private sectors.

By Christina Kopsini

The so-called “zero deficit clause” agreed between the Greek government and its international creditors to apply to social security funds from this summer, is bringing fresh cuts to auxiliary pensions.

By Christina Kopsini

Auxiliary pensions are set for a drastic reduction following the abolition of 24 indirect taxes that raised revenues for social security funds, which is foreseen in the government’s new multi-bill.