Early retirement pensions face up to 40% slashes

Two new circulars of the Ministry of Labour and Social Security include clarifications on the new levels of retirement age of pensioners in the special Public Utilities and bank funds as well as for those ensured by the mass media employees fund (ETAP-MME). For instance, according to examples put forth by the ministry itself, a pensioner who received early retirement benefits five year earlier to the actual pension age will see pension benefits slashed by 40% (1,000-euro-pension will decrease to 630 euros per month).

New regulations to be implemented on January 1, 2022, set the retirement age at 62 years (with 40 years or 12,000 days of insurance) and at 67 years (for those who have 4,500 days or 15 years of insurance).

10% slashes will be applied until the beneficiary reaches the full pensionable age.

The new regulations (in Greek):

Read the full circular for the fund for the self-employed (ΕΤΑΑ)
Read the full circular for the fund for self-employed (ΟΑΕΕ)
Read the full circular for the ETAP mass media fund 
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