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Tag Archives: pensions

Greeks to sink in insurance contributions: pension of 360 EUR and “compulsory life insurance”

Groundbreaking changes in Greece’s pension schemes are on the way as the social insurance funds are about to collapse due to high unemployment and liquidity shortage in the labor market. There are plans for a national pension of just 360 EUR and a ‘compulsory life insurance’ to cover the rest …

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Retired Greek MPs & MEPs cost taxpayers €1.5 million per month

It’s not a secret that members of the Parliament, whether national or European, have a good time. Good salaries, benefits and juicy pensions. Even if they served “country and the public interest” for only two legislative periods. that is a maximum of 8 years. Of course, MPs and MEPs are …

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Labour Ministry: 33% of Greek pensioners get €360 gross, another 33% gets €675

for the first time since the country sought the ‘economic rescue’ by the IMF, Greek Labor Ministry published a full record of the number of pensioners and pensions distribution. The data has been collected for 93 social insurance funds. For the vast majority of Greece’s seniors the pension is very …

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Thousands of troubled Greek seniors form long queues after pension stop

Thousands of pensioners at the verge of brain-stroke and heart-attack formed long queues outside the offices of Greece’s biggest insurance fund IKA on Friday morning. The troubled seniors had rushed to the local branches of IKA because their pension had been stopped. Just like that. The seniors must have been …

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Greeks trapped, worry about wages & pensions as Cypriot banks remain closed

Thousands of Greek employees and pensioners with accounts in Cypriot banks in Greece worry about their money. “Will the Cypriots banks explode in my hands?” a  retired neighbor asked me last night. Several months ago,  he opened a bank account at the branch of a Cypriot bank in Athens, because …

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Greek Gov’t Rules Spending Controls & Wages-Pension Cuts Bypassing the Parliament

With two legislative actions and fourteen ministerial decisions the Greek government caused serious damage to two state powers of a sovereign state:  the Legislative and the Executive. Bypassing the Parliament, the government drafted legislative actions that give the Finance Minister super powers. Inspectors at ministries, local governments and public utilities enterprises will monitor …

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10,000 Fake Pensioners Exploit Greek Social Insurance Funds

One may pose right away the question:: only 10,000 fraudsters have been exploiting the money of debt-ridden, Greek social insurance funds? According to Greek media, the 7,500 fake pensioners have been illegally receiving money from the country’s biggest insurance fund IKA. Further 1,014 fraud case have been revealed at the Farmers’ Fund, OGA. …

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Greek Employees, Pensioners & Patients to Pay for Troika Austerity – Again!

It’s the same old Greek story: Employees, pensioners and patients will mainly pay for the Troika austerity measures. A package of 11.5 billion euro for the years 2013-2014 and additional measures of 3 billion euro for 2012 to cover up missed fiscal targets. Employees, pensioners and patients will have to …

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FinMin: Chasing Taxes In- and Outside Greece, Seizing Salaries & Pensions, Confiscating Properties

 Greek Finance Ministry extended the procedure to ‘regulate’ overdue taxpayers’ debts until 29. June 2012. The extension refers to debts to the state after they became overdue until 29. February 2012. Private persons with debts up to 10,000 euro and companies with debts up to 75,000 euro are eligible to …

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Labour Minister: One Million Greeks Get Pensions 400-500 EURO

These are things we learn when some Greek official wants to argue on other issues. Minister of Labour and Social  Security Giorgos Koutroumanis said that one million pensioners receive just 400 to 500 euro per month. Speaking to private broadcaster ANT1 TV  Koutroumanis said that there have been no reductions in the pensions of …

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Greeks in the Tropic of Austerity

Wherever you sit and stand you will get confronted with private stories and destinies in the Tropic of Greek Austerity.  A huge scissors made of steel cuts salaries, pensions and jobs. Within a single month people see their income vanished and they have to cope with just 550 euro to feed their …

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