Cuts in national pension to be discussed in Greece-‘Quartet’ meeting

Lenders insist national pension should be provided based on income criteria after 20 years of insurance

The leadership of Labor Ministry prepares for the negotiation talks with Greece’s lenders to start on Wednesday noon aiming to save primary pensions (except high pensions) and find compromise solutions for the other demands of the ‘Quartet’, such as national pension, supplementary pension and replacement rates.

The main open issues to be discussed include cuts in supplementary pensions and lump sum, which might be reduced by 40%, as lenders demand, according to new information.

Moreover, national pension will be on the focus of the discussion, since lenders insist that it should be provided based on income criteria after 20 years of insurance instead of 15, as it was originally calculated.