The Greek Minister of Social Security stated on Greek TV channel Mega on Saurday morning that the provision for the 13th pension to 1.2 million beneficiaries is ready.

According to Mr. Dimitris Stratoulis the expenditure will amount to 545 million euro.

While referring to pensions, Mr. Stratoulis assured that former government’s scheduled reduction of an extra 15% will not take place since the SYRIZA government will find other resources.

As the Minister of Social Security explained the losses from suspension of the reduction of pensions will be covered with 1/5 of the revenue from the new debt setting on insurance funds ( 300 million euro out of the 1.46 billion euro) which will be directed to the Unified Supplementary Insurance Fund (EBRD).

However,  Mr. Stratoulis made aware of a 1 billion euro “hole” in bank insurance.

Furthermore, the Minister stressed that the pension age limits will not be increased and that is final.

Finally, Mr. Stratoulis said that if consolidation of insurance funds proves necessary, then it will happen. The savings will come from cutting operating expenses rather than pensions, he said. “We have ways to deal with the financial crunch”, concludes Mr. Stratoulis.