Cartel Alfa leader: 65 pct of employees to collect minimum retirement benefit under new pension bill

According to the new pension bill, about 65 percent of the employees will only collect the minimum pension, president of the 'Cartel Alfa' National Trade Union Confederation Bogdan Hossu told a press conference in Zalau on Wednesday.

Labor Minister: Pension Pillar II unchanged, 0.5 pct of money transfer fee directed to Pension Office

The new Pension Law doesn't provide for any change of Pillar II (mandatory private pension fund, ed. n.), but 0.5 pct of the fee charged by companies in this sector will be directed to the National Pension Office, Minister of Labor and Social Justice Lia Olguta Vasilescu told a press conference on Friday.

Bulgarian Pension Funds will have to Forecast the Future Pension of People

Pension funds will be required to provide estimates of the future amount of retirement benefits. This includes changes to the Social Security Code (CSR), published on the website of the Ministry of Finance. The aim is that the insured persons in voluntary pension funds can better plan their old-age savings.

Employee charged in Hellenic Post embezzlement

A Hellenic Post employee in Halkidiki, northern Greece has been charged with forgery and embezzling 300,000 euros from two branches in the 2012-14 period.

The suspect embezzled funds, pensions and remittances while he was working at the post office branches in Kallikrateia and Kassandreia.

He was expected to appear before an investigative magistrate on July 4.

IMF fears reversal of reforms

The International Monetary Fund on Friday expressed uncertainty over the long-term prospects of Greece's debt, along with concern that some of the reforms might be reversed or not implemented, including the reduction of pensions in 2019 and the tax discount in 2020.