Viable social security system, but only on low pensions

The sustainability of the social security system is considered assured until the distant 2070, according to a new study by the National Actuarial Authority submitted to the competent department of the European Commission.

There is, of course, a very important and highly mandatory condition: That nothing changes in terms of the so-called "parametric changes," i.e. retirement age limits, amount and method of calculating benefits, etc. And, of course, an equally disappointing finding, that Greece has a sustainable system, but insufficient in terms of the one and only obligation: To ensure to workers and pensioners an adequate living income.

The study, Kathimerini understands, presents a sustainable pension system, in an aging society with a smaller population, particularly reduced costs but also significantly lower pensions.

The experts even estimate that the...