Greek pensions to increase first time in 12 years

Greek pensions are set for the first increase in more than 12 years, said Deputy Labour and Social Affairs Minister Panos Tsakloglou during an inteview with ANA news agency on Sunday.

“2023 is the year of increasing pensions for the first time, after 12 years,” said Tsakloglou  noting that the government has supported the income of pensioners in several ways.

Tsakloglou also referred to the challenges he was called to face when he took over the position of Deputy Labour and Social Affairs Minister and focused on the emblematic, as he characterized it, reform in the architecture of the public social security system with the introduction of capital supplementary insurance, “which aims to reduce the exposure of the social security system to the demographic aging of the population, to the increase of savings, which will be invested significantly in the Greek economy, enhancing growth, providing disincentives for uninsured work and providing higher pensions to future generations.”