Pension

The management of the Single Social Security Entity (EFKA) is planning an extraordinary issue of new pensions on November 28 and at least one more batch within December, with the aim of drastically reducing outstanding pension applications by the end of the year.

Around 150 policemen gathered in front of the regional parliament Tuesday, demanding that legislators reject a proposed law on pensions which they say would lower their retirement payouts by 30 per cent. 

One million retirees can expect to see their monthly pension drop 14 percent in 2019 as a result of the agreement the government reached last year with the country's creditors regarding the so-called personal difference (the gap between the pension as calculated according to the old method and that using the new calculation system).

The creation of a Europe-wide insurance market that will be able to provide customers with a guarantee of stability and transparency is the European Insurance and Occupational Pensions Authority's (EIOPA) key objective.

As Croatia's government announces stricter rules for the state's ailing pension system, both pensioners groups and experts have warned that the announced changes will not resolve the key issue - the unhealthy ratio between working people and pensioners.

Some 200,000 self-employed professionals will next year be forced to pay double social security contributions to the auxiliary fund for retirement lump sums.

Freelance professionals in Greece may declare as low an income as they wish in order to avoid paying taxes, solidarity levies and social security contributions. This year's tax statements showed that 89 percent of them declared annual takings below 7,000 euros. One might assume that declaring a very low income ought to entail lower pensions, but that is not the case.

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.

A five percent increase in pensions will be implemented in Serbia starting January 1, while public sector salaries will grow ten percent.

Prime Minister Ana Brnabic announced this on Saturday in the town of Krusevac, during a news conference held after her cabinet's session organized to mark its first 100 days in office.

The average insured income for the country in August 2017 is BGN 804.44, the National Statistical Institute reported.

The average monthly insurance income for the country for the period from 01.09.2016 to 31.08.2017 is BGN 801.86.