Pensioners have been waiting for months for the much-promised increases under the pension reform. The amendment bill for Pillar 1 of the social security fund appears to have been facing legal obstacles for months.
On Monday, Marinos Mousiouttas will appear before the Finance Committee to present his portfolio’s budget, where he is expected to field questions regarding the progress of the much-publicized pensionpension reform.
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However, beyond the improvements it seeks to make—according to the unions, in particular—it includes provisions that worsen retirement conditions and fail to guarantee adequate pensions
.“The proposed increase in the required number of years of insurance coverage from 33 to 38 effectively limits the right to retire until age 63. Furthermore, the failure to count periods of study and child-rearing toward pension eligibility creates new injustices, affecting both survivor’s and disability pensions.”
PEO
For example, if a woman began working at age 25, after completing her studies, and has since had three children, and for each child she has accrued 3 years of social security credits and has completed another 33 years of work; under the current system, she is entitled to early retirement at age 63. Under the changes being proposed by the government, the years she spent studying and staying home to care for her children will not be counted toward her eligibility for early retirement, since she would need to have completed 38 years of service—which is, in other words, impossible.
At the same time, after five years of the reform’s implementation, the early retirement formula will change, and the penalty will rise from 12% to over 15%. The issue of men who became widowers before 2018 and do not receive a widow’s pension also remains unresolved.
Watch the report by Kleio Vourkou:
