Pensioners from the Shareholders Fund of Civilian Employees (MTPY) could face further 50% slashes to their dividends in a move aimed at affecting 285,000 pensioners. Hence, the pensioners of this fund could see their dividends drop from 136 euros to 68 euros.

Deputy Minister of Social Security, Anastasios Petropoulos, has already informed the fund’s administration of the government’s plans for further slashes in a letter. He states that 40 million euros are needed for the deposit of 285,000 monthly dividents at a time when the fund only has reserves worth 12 million euros.

Hence, the cut of dividends is necessary for the viability of the fund.