The Minister of State for Labour and Social Affairs, Panayiotis Tsakloglou, stated categorically that «old-age pensions will not be reduced and will continue to be given under the same rules» and added that «the problem with outstanding pensions is an issue that has been with us for many years, but this year a major aggravating factor was the pandemic».
Speaking to «Theme 104,6» about the new supplementary insurance scheme, explained that we have fewer employees than insured. We have an ageing demographic and that doesn't help production. The main pensions will be pay-as-you-go, he said. The supplementary pensions will be for new entrants while older people will receive their pensions as normal, with no reduction, he stressed.
The goal is to build a capitalization system. Not based on demographic data but on market data. Create new individual accounts. The new system, according to the minister, will be implemented from 1 January 2022.
