A law passed by former labour minister Yorgos Katrougalos will slash pensions up to 30 percent after Easter for various categories of retirees, and especially those who retired recently, with over 30 years of work and monthly salaries of over 1,500 euros.
Initial data on 16,000 pensions of employees who retired after 13 May, 2016, indicate that civil servants with university or technical school levels of education and 30 years or more of service will see their pensions cut by 30 percent.
Most pension cuts will range from 16 to 25 percent, but those hit hardest are those insured by the IKA Social Security Foundation who earned over 1,500 euros monthly and had over 30 years of service.
Those insured by the TEVE freelance professionals’ insurance fund and were in high or medium-level insurance categories will have their pensions cut by a minimum of 220 euros.
Those with 30 years of insurance and in the two highest brackets of the Agricultural Entrepreneurship Fund (TAE) will have a 30 percent pension cut.
Those insured with the former lawyers’ fund and with the TSAY healthcare professionals’ fund will also get a pension cut of 30 percent.