Strong social profile in social security reform

Reforms with a strong social stamp that correct past injustices are included in the draft bill to modernize pension legislation recently submitted to Parliament, Labor and Social Affairs Minister Kostis Hatzidakis said in an interview on Sunday.

“Among others, we are supporting 2.3 million vulnerable fellow human beings at a difficult time through the payment of an extraordinary financial benefit [of 250 euros] by December 20. We are defining the necessary processes for adjusting pensions from January 1, 2023 that, combined with a series of other increases… will result in a significant boost of the real income of the overwhelming majority (95%) of pensioners,” he said.

Other measures included a uniform set of rules for disability, making the lower social insurance contributions permanent, subsidizing the conversion of part-time jobs to full-time and extending maternity leave to nine months.

The law will “unfreeze” regular pension increases, linking them with the rate of increase of both GDP growth and the price index.

The amount paid will initially be based on budget forecasts and then adjusted accordingly once the final ELSTAT figures for the year are released and the result incorporated into the increase of the following year, the minister said.