Employment compensation

Pension spending remained within the limits set by the state budget in the first five months of the year, according to data published on Tuesday, compiled by the Labor Ministry's Helios monitoring system, show.

Six arrested in connection to pension fund corruption case

BELGRADE -- The police took six persons to the Prosecutor for Organized Crime for questioning on Wednesday on suspicion that they illegally acquired at least RSD 70mn.

This happened through abuse of the suspects' official positions held at the state-run Pension and Disability Insurance Fund (PIO).

Pensions "may have to be reduced" by end of year

BELGRADE -- Finance Minister Lazar Krstić has announced that "pensions also may have to be cut" by the end of this year.

Speaking for the public broadcaster RTS, he said his ministry's priority would be "fiscal consolidation and introduction of financial discipline."

Greek Parliament employees reportedly received the sum of 1.35 million euros in benefits over Easter, it was revealed over the weekend.

According to reports, the benefits were released to the parliamentary staff fund via the House budget.

These payments are just one of 14 sources of funding from which employees’ benefit under rules that remain vague.

Despite the crisis, almost half of Bulgaria’s companies will give Easter bonuses, a study of the Bulgarian Chamber of Commerce and Industry shows.

Some 43% of employers will give incentives to their workers, usually ranging between 10-30% of their salaries, BNT reports.

A new wage structure for civil servants will be ready in September, Administrative Reform Minister Kyriakos Mitsotakis said on Tuesday.

The new scheme will contain financial incentives for public sector workers who meet productivity targets but will also mean wage reductions for some.

BELGRADE – Serbia’s Pension and Disability Insurance Fund (PIO) has huge assets that should be put to use for generating income as soon as possible, and a legal framework needs to ensure that pension contributions are actually paid for there to be enough money for pensions, said participants at a meeting of Serbia’s pensioner trade union assembly on Tuesday.

The Greek government may soon have to increase the country’s retirement age and slash pensions further, according to an updated copy of its bailout terms seen by Sunday’s Kathimerini.

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.

The number of Greek pensioners edged up for a third month in a row in March, reaching a total of 2.65 million.

Greece spent a total of 6.8 billion euros on pensions in the first quarter of the year, according to the figures produced by the Ilios system overseen by the Labor Ministry.