Greek government tables in parliament pension system draft bill

09:33, May 11, 2010      

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The Greek government on Monday evening tabled in parliament a pension and social security draft bill, which has already caused strong reactions of labor unions and employees.

"Inaction would eventually lead to a collapse of the system and the abolishment of the pension," said Greek Labor Minister Andreas Loverdos while presenting the basic changes introduced.

The new social security draft bill, approved on Monday afternoon at a cabinet meeting, raises from 37 to 40 years the minimum years Greeks will have to work in order to receive a full pension and reduces by 6 percent yearly the pension they will receive if they stop working before reaching the age of 65.

According to the new bill, from now on only for health reasons will anybody be allowed to retire before celebrating his or her 60th birthday. Over the past decades Greeks, especially women civil servants, could retire even at the age of 40.

Stressing that the reforms have already received positive comments from the European Union, Loverdos announced that the changes will be implemented gradually starting from 2015.

The bill, expected to be ratified by the Greek parliament this week, has been denounced by labor unions, which called on Monday evening for a new demonstration in front of the parliament on Wednesday.

Source: Xinhua
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