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Greek gov’t says to raise pensions as compensation for scrapping of poverty allowance

The Greek government plans to raise pensions to low-pensioners as a compensation for scrapping the poverty allowance (EKAS) to thousands of people as demanded by the country’s lenders.

Speaking to Sto Kokkino FM, deputy minister for Social Security, Tasos Petropoulos, said that low-pensioners of less than 700 euro per month will have zero participation in the purchase of  perscription medicine and will also receive a slight raise in the pension amount.

  • pensions of €503 will increase to €595
  • €526 to €623
  • €606 to €666

Those living in a rented home will also receive an extra monthly allowance of 50 to up to 87 euros, Petropoulos said.

He added that the zero participation in prescription medicine could help low-pensioners save an average of 30 euros per month.

The Minister said that there is a relevant legislation already form 2015, awaiting to be implemented.

When these extra money will be handed to low-pensioners? As of 1. January 2019.

Until then, several thousands of low-pensioners will have to seek ways how to survive the year without the poverty allowance.

Scraping the EKAS is one of the prior actions Greece has to fulfill in order to concluded the third review and have the third bailout tranche released.

Ever since 2011, the poverty allowance has been gradually decreased with more and more pensioners seeing the little extra money disappear as they were excluded each and every year. As of 1. January 2018, 50,000 pensioners were excluded from EKAS, 185,000 low-pensioners saw the tiny aid shrinking from 115 euro to just a tip of 35 euros per month.

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