Hundreds of pensioners staged a demonstration today in Kotzias Square, across from Athens’ City Hall, to protest pension cuts scheduled to take effect on 1 January, 2019.
They are demanding that the government not proceed with a recalculation of pensions as they cannot endure further cuts to their pensions.
There have been a number of pension cuts since the start of the crisis in 2010, with a 40 percent cumulative reduction not uncommon.
The fresh uts will be based on the so-called “individual difference” between the pensions paid to retirees who retired before 12 May 2016 – when then labour minister Yorgos Katrougalos passed cuts for new pensioners – and the pensions issued after that date.
The average cut this time around will be 18 percent, but retirees with larger pensions will suffer greater cuts.
The president of the Federation of Social Security Foundation (IKA) pensioners, Dimos Koumpouris, said that, “We are demanding that they abolish this law [passed by Katrougalos] as it contains deadly provisions regarding the personal difference and the recalculation of pensions. That will result in the loss of the equivalent of three to four monthly pensions,” he said.