Pensioners march in downtown Athens protesting new cuts of 18%

Hundreds of pensioners marched in downtown Athens in one more protest against cuts in main and supplementary pensions during the austerity years. The protest was staged as the recalculation of pensions is imminent due to the so-called Katrougalos-Law of 2016.

The pensioners from the private and public sector said that up to three or even four pensions per year will be lost with the new calculation.

With central slogans “Hands off pensions” and “No to slaughtering of pensions”, protesters complained about the cuts in main and supplementary pensions and in poverty allowance (EKAS).

They complained that they have not received yet the illegal health care contributions. They demanded the reinstatement of the 13th-14th pension, recapitalization of the social security funds and health care free of charge.

In a press conference on Wednesday, the pensioners said that 50billion euros have been cut in pensions since 2010. The Greek bond swap of 2012, the famous PSI, deprived social security funds of 25 billion euros. Pensions cuts have reached up to 45%, will the cuts in supplementary pension have been up to 85%.

According to a recent study by Professos Savvas Robolis,  the recalculation of pensions as of 1.1. 2019 will bring pensions down to €480 from €722 in the average nowadays.

• one in three pension is no more than €500 per month
• average pension is considered €722
• recalculation of old main and supplementary pensions will deprive a total of €2.5 billion
• recalculation is expected to be at least -18%

With expanding of the tax-free basis scheduled for 2020, the average net pension will be at 450 euros, the study said warning of an unprecedented poverty explosion.

The point is that when the average wage is 500-700 euros per month, there cannot be pensions of 1,000 euros to civil servant in early retirement after 25 years of service. Once the Greek governments come to their senses with regards to privileges for the civil servants, things can only get better. At least the Greek state increased social security contributions to civil servants last year.

In other Pensions news, the Council of State ruled that pension cuts for judges and prosecutors are against the Constitution. the CoS calls on the government to return the cut amounts retrospectively….