Katrougalos admits supplementary pensions cut by 40%

Government will stand by fired workers in TV stations, he said

Labour Minister George Katrougalos admitted that ancillary pensions were slashed by 40% during an interview on state broadcaster ERT, Wednesday. Katrougalos explained that this came about as a result of an imbalance between contributions and benefits. The Minister stressed that main pensions had not been affected, while supplementary pensions would be cut, only if the aggregate of the two was over 1,300 Euros a month. He claimed the new estimation was based on a more just social system between contributions and benefits received by pensioners. Katrougalos dispelled rumours that pensioners would suffer new cuts as ‘black propaganda’. The Minister added that all pensioners would be personally informed via letters on the amount they would lose and how the new system of estimating their pensions worked. He added that that a 10% limit would be imposed on amounts paid retroactively, while he accused the opposition party of New Democracy of twoing the line of Greece’s lenders. On the matter of debts to pension funds, Katrougalos said the Greek government would attempt to freeze them in the upcoming talks with the country’s creditors. The Minister reiterated the government would not budge on its red lines regarding massive lay-offs in the workforce, collective bargaining and lock outs. On the issue of people losing their jobs in the TV stations that failed to get licences, Katrougalos said the government would show solidarity to them, without specifying how.