Greece’s labour ministry issued the first circular clarifying the changes to Greece’s pension system under the reforms required by Greece’s creditors on Tuesday.
It breaks down the number of old-age pensions to be paid for those who retired after 1 July 2015 and the minimum retirement age according to the memorandum.
The minimum age for a full and reduced pension will gradually increase.
From 1 January 2022 Greeks will be able to retire at 62 years with 40 years of uninterrupted employment in order to receive a full pension or retire at 67 years of age, having completed 15 years of full employment.
Exempted from the above measures are those in strenuous or unhealthy professions, as well as single or widowed mothers and fathers with offspring incapable of gainful employment.
The circular also specifies that the changes do not affect those who have already established rights to a pension from social insurance funds, having fulfilled the required years of employment and age.
Their right can be exercised at any time.
Source: Newsbomb.gr