If you know three pensioners who get benefits worth over 1,000 euros per month, then expect one of them will lose these due to the restructuring of pension system due to the necessity of further belt-tightening. The so-called Committee of Wise Men on Thursday delivered a 30-page report outlining reforms needed in the pension system. The key recommendations advised the unification of all pension funds and introduction of uniform rules for the categories of uninsured, including revisions to the size of pensions for those already in retirement – despite the fact that there have already been three pension slashes. Now, it is hoped to bridge the differences between the old generation and new generation pensions (after 1992).

The committee’s goal in the report was to make the pension system sustainable by creating a ‘national pension’ that all pensioners would be eligible for that would become lower as income from pensions and other sources rises. Another proposed change is that of the “controlled deficit system” to replace the “zero deficit clause” for auxiliary and supplementary pensions.

Labor Minister George Koutrougalos said that the report would form the basis of public dialogue to be launched in the coming week between the Radical Left Coalition (SYRIZA) government and its partners. He said that while he agreed with some suggestions, such as uniform rules for all pension categories, he was ambivalent regarding proposals for income criteria to determine the final size of pensions.

Further cuts, however, are unavoidable and are expected to be from 20-30% for high pensions. Hence a pensioner who receives a rate of 1,300 euros per month (total main and auxiliary pension) will have an annual loss of 3,900 euros (25% loss). In other words, that pensioner will lose three rates despite the fact that SYRIZA had promised to return the lost 13th pension.

No sooner was the committee’s report presented, that the Greek Communist Party (KKE) issued a statement noting that the proposals would bring dramatic cuts in pensions and other benefits, increase the retirement age without exceptions, including for hard professions. “This report is a monument to the harsh class politics with proposals of unprecedented cruelty and brutality,” adds the party’s press release.