Minimum salary to be hiked to 830 euros from January
Labor and Social Security Minister Niki Kerameus announced measures on demographics, the reform of social benefits and support for working parents through a better work-life balance during an interministerial press conference in Thessaloniki on Thursday.
Kerameus detailed the measures under the ministry’s remit, previously announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair (TIF).
She specifically highlighted steps to boost employment, including raising the minimum wage. Starting April 1, the minimum wage will rise to 830 euros from €650 in 2019, marking a 27.7% increase.
The average wage has also grown from €1,036 in 2019 to €1,252, a 20.8% rise. By 2027, the goal is to have the minimum wage reach €950 and the average wage at €1,500.
Kerameus also announced reductions in social security contributions, reforms to unemployment benefits, and incentives for businesses to support new parents.
Employers providing non-salary benefits up to €5,000 to new parents within the first year of a child’s birth will be exempt from taxes on those benefits, with an additional €5,000 for each dependent child.
For pensioners, support measures include increases of 2.2% to 2.5% for over 2 million pensions, starting on January 1, 2025.
This marks the third consecutive year of pension increases. A special bonus will also be provided to pensioners affected by the “personal difference” rule, along with those not eligible for the general pension increases.
