Pensions in the United Kingdom

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.

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 average main pension will amount to just 620 euros a month in four years' time and the average supplementary pension to no more than 144 euros, according to data included in the midterm fiscal plan that government recently passed.

Slovenia's Parliament adopted amendments to the Pension and Disability Insurance Act, according to which pensioners who meet all requirements would have a guaranteed pension of EUR 500, BNR reported.

The act aims at making the minimum pension in that country EUR 500 per month, so that poor pensioners do not have to ask the state for additional assistance.

The budget commission has rejected the proposal of the deputies of the Patriotic Front for a minimum pension of BGN 300.

The Patriotic Front had offered two options for an increase of pensions next year. The first option was for a minimum pension of BGN 200 and recalculation of the rest of the pensions as of April 1. The other option was for a minimum pension of BGN 300 as of July 1.

The draft legislation on social security and public sector pensions that has come to light provides that people planning to enter early retirement will see their pensions drastically slashed.

The range of supplementary pension cuts was the main issue of the discussion between Labour Minister Giorgos Katrougalos and the representatives of the institutions after lenders’ refusal to accept any increase in insurance contributions.

The leadership of Labor Ministry prepares for the negotiation talks with Greece’s lenders to start on Wednesday noon aiming to save primary pensions (except high pensions) and find compromise solutions for the other demands of the ‘Quartet’, such as national pension, supplementary pension and replacement rates.

Greek Labour Ministry is being prepared for the negotiation talks with Greece’s lenders that are expected to take place in March leaving all options open concerning the social security reform.

The Ministry of Labor examines seven alternative scenarios on pension and benefit cuts in order to persuaded the representatives of the institutions to return to Athens.

Government sources admit that there is a difference in fiscal gap with the IMF, but they are optimistic that they will reach an agreement, if Greece implements pension cuts.