Retirement

 Coalition concerned about provision for merging auxiliary pension funds as it will affect armed forces

The multi-bill of reforms needed for Greece to receive its next 1 billion euros in bailout loans and pave the way for the successful conclusion of the next troika review in September was submitted to Parliament Tuesday.

Minister: Changes to pension law necessary

BELGRADE -- Finance Minister Lazar Krstić said on Thursday that it was "necessary to introduce changes to the Law on Pension Insurance."

The goal was "to ensure the sustainability of the pension system and public finances as a whole," he said.

By Christina Kopsini

Not a single measure has been introduced over the past few years aimed at helping jobless Greeks who are middle-aged or older. Labor Ministry officials behave as if unemployment is not an issue among people in those age groups.

BELGRADE - Serbian Finance Minister Lazar Krstic said on Thursday that it is necessary to introduce changes to the Law on Pension Insurance so as to ensure the sustainability of the pension system and public finances as a whole.

The Government has the financial resources to increase the minimum pension to 400 lei in 2015, Prime Minister Victor Ponta announced on Thursday.

He mentioned two categories of retirees whose pensions should be increased — the court clerks, and the aircrews.

A total of 174 retirees currently receive monthly state pensions in excess of 4,000 euros, Labor Minister Yiannis Vroutsis (photo) said on Wednesday in response to a question submitted in Parliament by New Democracy MP Kyriakos Virvidakis.

By Christina Kopsini

The Greek social security system is a ticking time bomb. Excluding the seamen’s and farmers’ pension funds (NAT and OGA respectively), the reserves of the rest don’t even top 4.5 billion euros, which is not enough to fund pensions after 2016, when the problem will explode.

Greeks will soon no longer have to visit their social security funds at regular intervals to validate their health booklets, allowing them to receive free or subsidized healthcare.

A decision signed on Friday by Labor Minister Yiannis Vroutsis means that each citizen’s social insurance history will be recorded on a common database, known as Atlas.

By Julien Toyer & Lisa Jucca

When Angel Gomez and Maria Luisa Fernandez retired a decade ago, they imagined spending their pensions largely on restaurant meals, holidays and toys for the grandkids. Today, their retirement money helps to support five families.

 More public and private sector workers are considering an early exit over fears of regulatory changes

By Christina Kopsini