Pension
OAEE asks for more support
OAEE, the social security fund for the self-employed, has seen its deficit increase and is again asking for additional financing via the special reserves of the Social Security Capital for the Solidarity of Generations (AKAGE).
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More pensioners near poverty line
The pension cuts to date have left some 1.2 million pensioners struggling to make ends meet. According to data compiled by the Network for Pensioners, three out of five retirees receive monthly pensions below 700 euros, with 44.8 percent of them getting less than 665 euros.
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50% of pensioners in Greece live in extreme Poverty
One out of two pensioners fall below the extreme poverty line, according to figures released on Thursday by the Greek Pensioner’s Network.
IKA to ask for help to pay pensions
The administration of the Social Security Foundation (IKA) is on Thursday expected to seek approval for additional funding from the Social Security Capital for the Solidarity of Generations (AKAGE) reserves to cover part of its constantly growing deficit.
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Costly errors in the review of pensions
The new method of recalculating more than 1 million auxiliary pensions has brought with it errors that are costing pensioners dearly.
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Average Social Security Income at BGN 763,04
The average social security income for the country is BGN 763,04, reported the National statistical Institute.
The average social security income for the period August 1, 2015 - July 31, 2016 is BGN 752,22. The index is used to calculate the newly-paid pensions in August.
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One in two pensioners lose money from Tsipras’s ‘squaring the circle’ speech
Despite the Greek PM Alexis Tsipras’s claim that he had managed to ’square the circle’ during his speech at the Thessaloniki International Fair, Sunday, the numbers paint a different story regarding the cuts in pensions. Half of the Greek pensioners (1.2 million) saw a cuts in their meagre incomes ranging from a few Euros to 230 Euros (abolition of the EKAS benefit).
"Too early for salary and pension increase"
A salary and pension increase should be considered carefully, Fiscal Council member Vladimir Vuckovic has said.
This time next year - when the 2018 budget is to be established - could be the time to think about that, he said.
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Katrougalos admits supplementary pensions cut by 40%
Labour Minister George Katrougalos admitted that ancillary pensions were slashed by 40% during an interview on state broadcaster ERT, Wednesday. Katrougalos explained that this came about as a result of an imbalance between contributions and benefits.
Workers retire in view of new pension cuts
Tens of thousands of workers who have secured the right to retirement ahave rushed to submit their pension applications before new social security reform measures go into effect. Experts estimate that at least 40,000 retirement applications have been submitted by civil servants and private sector employees from the start of the year to April.
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