Retirement

A new social security plan published by Greece’s newspaper To Vima refers to a scheme that aims to merge insurance funds. This new plan has been submitted to the Employment Ministry and applies to all people insured from 1992 onwards.

Friday witnessed the first pension reductions mandated by the third memorandum, which was negotiated and sent for ratification to Parliament this month by the outgoing SYRIZA government.

Greece is about to ratify the 3rd bailout package fro Greece that contains a series of tough measures scheduled to come for voting in the Plenary of Greek Parliament.

The Quartet of Greece’s creditors from the European Commission (EC), European Central Bank (ECB), International Monetary Fund (IMF) and European Stability Mechanism (ESM) are pushing for a level retirement age at 67 years by January 1, 2022, regardless of extenuating circumstances.

The Bulgarian Parliament approved at second reading on Tuesday the amendments to the Social Insurance Code.

A total of 97 MPs voted in favour of the pension reform of Deputy Prime Minister Ivaylo Kalfin, 20 MPs voted against and 10 abstained, daily Dnevnik informs.

Over half of Turkish people believe that they will face economic problems after they retire, so most have planned to keep working, according to a survey by AvivaSA and its partner Aviva in 12 countries. 

A man living in the eastern province of Erzurum has finally proven he is alive after he was mistakenly listed as dead by Turkey's main social security service provider, state-run Anadolu Agency reported on July 5.

The normal retirement age in Bulgaria will gradually rise to reach 65 years for both men and women in 2037, parliament has decided.

The period of work needed to make a worker eligible for receiving full pension benefits will gradually rise by two months a year to reach 40 years for men and 37 for women in 2027.

By Roula Salourou

A series of measures that could burden the state budget by more than 300 million euros per year are included in a bill that the Labor Ministry tabled on Monday in Parliament.

By Roula Salourou