Austerity strikes again: Greek pensions slashed


The government that promised tyo end austerity in Greece has just announced that it’s inflicting more of it, striking the most vulnerable.

Pensioners are having their checks slashed, with the money taken away to be used to fund the nation’s deeply stricken healthcare system, all to benefit the lenders of the IMF, the European Central Bank, and Germany.

There’s one small plus: The cuts won’t affect those who receive just one payment from the complex system in which recipients often have several sources of pension funds.

From To Vima:

Pensioners who receive more than one pension are expected to face a 6% cut from their main pensions, which will go towards healthcare. According to the circular issued by the Ministry of Labor, this change will come into effect at the end of August and applies retroactively as of July.

Prior to the circular being issued, the recent labor reforms stipulated that the 6% healthcare contribution would come from one main pension. The Ministry’s circular however notes that pensioners who no longer qualify for the EKAS benefit will be absolved from the contribution.

A statement has been issued by the Ministry of Labor in order to clarify that the 6% reduction will be from the net pensions paid, rather than the gross, as was typically the case under the previous governments. The Ministry also underlines that fairness is at the heart of the pension reform, which is why pensioners who only receive one pension are exempt from the change.

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