Pension

The government is forcing the Single Social Security Entity (EFKA) to rush through the paperwork for new pensioners and make as many payments as possible by Tuesday - to the extent that the fund's employees are being asked to work over the weekend to clear the backlog - so that Greece can make the deadline for the payment of dues to third parties.

Every country has a vital core upon which it is supported. Among the most obvious examples are first responders and people who put themselves in extremely dangerous situations at times of crisis when people's lives need to be saved.

Payment of pensions for October will begin on 9 October (Monday) and will end on 20 October (Friday) 2017, reported BGNES. 

The payment of pensions will be through post offices and will be made in accordance with a prepared schedule, which will be announced in advance at each post office.

From this month, 824 thousand pensioners will receive a higher pension with an average rise of 17 BGN. The minimum pension for old age is 200 BGN, reports Sega. 

This is the second increase of pensions for this year, agreed between GERB and their coalition partners.

From July 1, 2018, all pensions will be increased by 3.8%, Social Minister Biser Petkov announced to bTV. The percentage is set by the golden Swiss rule, which accounts for half of the rise in insurance income and inflation. This means that the average pension, which is now 350 leva, will grow by 13-14 leva, Petkov calculated, quoted by Dnevnik.

The union of Greek industrialists (SEV) has painted a dire picture of the state of the Greek pension system, saying basically that it is running on empty, and that the country's beleaguered private sector has taken on a disproportionate share of the burden to support pensioners and the public sector.

The average monthly insured income for the country in July 2017 is BGN 811.75.

The average monthly insurance income for the country for the period from 01.08.2016 to 31.07.2017 is BGN 797.70, the National Statistical Institute (NSI) has reported.

According to certain clauses within existing laws, thousands of public sector workers aged between 58 and 62 will be eligible for their pension before the age of 67.

The analyzes show that the pension system will be stable by 2040, but then reform will be needed to avoid a crisis, announced Social Minister Bisser Petkov on bTV on Monday.

Pension applications submitted after May 13, 2016 - after the so-called Katrougalos law was legislated - reveal significant cuts in pension payments.

According to the relevant data, five categories of pensioners will suffer cuts due to the new way pensions are calculated.