First year of pension increases after 12 years

“Next year will be the first year of increasing pensions for the first time, after 12 years,” Deputy Labor and Social Affairs Minister Panos Tsakloglou said in an interview with the Athens-Macedonian News Agency on Sunday, noting that the government has supported the income of pensioners in several ways.

Tsakloglou also referred to the challenges he was called to face when he took over the post and focused on the emblematic, as he characterized it, reform in the architecture of the public social security system with the introduction of capital supplementary insurance, “which aims to reduce the exposure of the social security system to the demographic aging of the population, to the increase of savings, which will be invested significantly in the Greek economy, enhancing growth, providing disincentives for uninsured work and providing higher pensions to future generations.”