Pension increase in Greece on January 1, new pensions adjusted for inflation

old greek man pensioner

A circular published on Friday implements a 3% raise in pensions as of January 1, 2024, following a joint ministerial decision (KYA).

The circular was signed by Deputy Labor & Social Insurance Minister Panos Tsakloglou and follows a joint ministerial decision (KYA) signed at an earlier time by the Labor & Social Insurance Minister Adonis Georgiadis, Deputy National Economy & Finance Minister Athanasios Petralias and Social Cohesion & Family Minister Sofia Zacharaki.

According to the KYA, all main pensions issued by e-EFKA, the unified insurance fund, active by December 31, 2023 (inclusive), will rise by 3% as of the first day of the new year. Specifically, the raises as of January 1, 2024, include the following:

- The national pension went from 413.76 euros to 426.17 euros.

- The ceiling for a main and a supplemental pension. For main pensions, the cap was 4,965.12 euros and will rise to 5,114.04 euros. The cap for supplemental pensions will increase from 1,489.54 euros to 1,534.21 euros.

- The lowest pension of a surviving spouse or child from a work accident or profession-related illness will rise from 387.90 euros to 399.54 euros.

- The basic pension issued by the Agricultural Insurance Organization (OGA) will rise from 387.90 euros to 399.54 euros.

As for first-time pensioners, as of January 1, all related pensions will include an adjustment for inflation.

In this way, the Labor & Social Insurance Ministry said in a statement that the state will treat all pensioners equally and guarantee an income following their pensioning whenever they apply for a pension.

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