Labour ministry tables amendment postponing pension increases until 2023

The Labour ministry tabled an amendment in parliament on Thursday which freezes pension increases until 2023 to free up funds to support other social spending in which Greece is lagging behind, the ministry said.

The increases in main pensions were initially scheduled for 2022. According to the ministry, postponing the increases by one year will save the unified social security fund EFKA about 250 million euros in 2022.

“Further cuts in pension expenditure and postponing the increase in pensions to the end of 2022, will allow for the release of funds that support other social expenditures in which Greece lags significantly over other EU countries, which results in a lack of adequate protection for vulnerable social groups,” the ministry said.

The amendment is included in a draft bill on fishing which will be voted on Friday.