Personal finance

ADEDY set to strike over pension reform

The civil servants' union ADEDY has heralded strike action as soon as a bill with the government's pension reform is tabled in Parliament.
ADEDY's executive committee indicated on Thursday that it would proceed with a 24-hour strike on the day the bill goes to the House, in line with a decision taken during its session last week.

Greek Authorities to Raise Pensions after Years of Cutbacks

A new bill submitted to parliament in January envisages new increase in pensions for pensioners in Greece.

Pension increases will range from 3% to 10% and affect pensioners who have more than 30 years of insurance coverage. The supplementary pensions for the freelancers and farmers will also increase by up to 48%.

Danca: Gov't adopts OUG on fiscal-budget measures

Prime Minister's Chancellery head Ionel Danca said on Monday that the Government adopted the emergency ordinance (OUG) on some fiscal-budget measures, providing locking in the benefits for dignitaries and the suspension of the provisions in the administrative code regarding the special pensions for locally elected until 1 January 2021.

Hundreds of thousands of pensioners are in for raises

The Labor Ministry is set to fully overhaul the country's pension system next month, as the social security reforms it is promoting will increase some 450,000 main and auxiliary pensions. The final number of recipients and the size of the hikes will be determined by the necessary study for the ministry by the National Actuarial Authority.

Orban says 2020 budget provides for amounts to increase pensions, salaries, according to legislation

Prime Minister Ludovic Orban said Monday that the draft budget for next year provides for the amounts needed to increase pensions from September 1, according to the pension law, but also for salary increases, provided for in the law of unitary pay.

PM Orban: We want to increase minimum wage, but we don't want it to cause negative economic consequences

The Government endorses the increase of minimum wage, but it doesn't want this increase to cause "negative economic consequences," Prime Minister Ludovic Orban has said on Thursday, adding that he also wishes for pensions to increase, while bringing to mind that the pensions fund has a deficit of more than 2 billion lei at this point.