Greek government getting ready postpone raising the retirement age at least until 2030. Reason – lack of growth life expectancywhich remains virtually unchanged after the COVID-19 pandemic.
According to the current law, starting in 2027, the retirement age must be reviewed every three years depending on demographic indicators. However, new data show that there is no reason yet to increase the age limit. Thus, current parameters will remain stable until the end of the decade.
The authorities promise that even with a subsequent increase, it will be gradual – 3–4 months a yearto minimize the burden on future retirees. The scenarios under consideration assume the beginning of changes in the period from 2028 to 2030.
Key indicators defining the reform: elderly dependency index (ratio of over 65 years old to working age), aging factor And birth ratewhich remains at 1.5 children per woman. These demographics are putting pressure on the system, but for now do not require urgent adjustments.
Future changes will have the greatest impact on those currently aged 35 to 55, who may face delayed retirement. Younger generations entering the labor market will have to accept new, much stricter conditions of the pension system.
Conclusion: freezing age limits gives the country “temporary backlash” but does not negate the need for future reforms. An aging population, a decline in the birth rate and stagnant life expectancy in the short term will lead to a revision of the pension model.
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