National Actuarial Authority
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.
Hundreds of thousands of pensioners are in for raises
The Labor Ministry is set to fully overhaul the country's pension system next month, as the social security reforms it is promoting will increase some 450,000 main and auxiliary pensions. The final number of recipients and the size of the hikes will be determined by the necessary study for the ministry by the National Actuarial Authority.
Population drop to raise age of retirement to over 70
By Roula Salourou
Greece?s poor demographic performance is evolving into a major threat for the country?s social security system, as a recent study conducted by the National Actuarial Authority and submitted to the European Commission has shown that the Greek population will shrink dramatically from 11.045 million last year (according to Eurostat) to 8.5 million in 2060.