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> Economy

Gov’t examines seven scenarios on pension cuts

The government is optimistic that it will reach an agreement with institutions, if Greece implements pension cuts

Newsroom February 29 12:30

The Ministry of Labor examines seven alternative scenarios on pension and benefit cuts in order to persuaded the representatives of the institutions to return to Athens.

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Government sources admit that there is a difference in fiscal gap with the IMF, but they are optimistic that they will reach an agreement, if Greece implements pension cuts.

The seven scenarios are the following:

1. Primary pensions cuts
2. Cuts in new pensions, but also in those already paid via recalculation
3. Reducing the maximum ceiling for the total amount of pensions (double main pensions + widow’s pension +supplementary pension) from 3,000, as Katrougalos law provided, to 2,300-2,500 euros.
4. Reducing the national pension of 384 euros to 320 euros
5. Supplementary pensions cuts
6. Reducing lump-sum up to 20%
7. Reducing dividends of the Civil Servants Share Fund received by 280,000 beneficiaries

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