The state social security fund (IKA) pension system is being overhauled. Specifically, a 12-membered committee will, on September 22, incorporate findings based on proposals by Miltiades Nectarios that foresees the inclusion of all pensions – main and auxiliary to the IKA fold for those who have been insured with IKA from 1992 onwords.

A “thorn” to the plan is the need for funds worth 15 bln euros so that the state can guarantee benefits for people who will be over 60 years in the period from 2016-2050.

Confusion reigns supreme in the Labor Ministry due to the fact taht there are two charts with different plans concerning the implementation of the increased retirement age and pension benefits from 2022.