Main pension increases: Decision signed – See examples

The decision was signed by the Minister of Labor and Social Affairs Kostis Hatzidakis and the Deputy Minister of Finance Theodoros Skylakakis for the increase of the main pensions from January 1, 2023.

According to KYA, the total amount of the main pensions starting to be paid until December 31, 2022 increases from 01.01.2023 by 7.75%.

According to the Ministry of Labor on an increase of 7.75% 1,724,713 pensioners will see it. Of those, 80%-85% will see a full 7.75% increase, while the vast majority of the rest will see increases in excess of 7% depending on how much personal difference they have.

It is also emphasized that in addition to the 7.75% increase, in the previous days additional increases and financial support were given to:

– 912,644 pensioners due to the abolition of the special solidarity contribution
– 1,206,624 pensioners through the emergency financial aid of 250 euros
– 231,655 pensioners through the 4th annual increase of Vroutsis.

Examples of increases:

Example 1

With an increase: Pensioner who receives 850 euros per month net. With the application of the 7.75% increase, the monthly benefit he will have will be approximately 66 euros, while the annual benefit will be 792 euros. In other words, it will reach 93% of an additional pension.

Example 2

With a double increase: A pensioner currently receives a pension of 900 euros and declares income from other sources of 6,200 euros in total per year. With the application of the 7.75% increase and the benefit from the abolition of the special solidarity levy, the total annual benefit amounts to 906 euros (840 euros from the 7.75% increase and 66 euros from the abolition of the special levy). The annual benefit exceeds that is amounts to an additional pension.

Example 3

With a double increase: A pensioner receives 750 euros per month. With the application of the 7.75% increase, the monthly benefit he will have will be approximately 58 euros, while the annual benefit will be 696 euros. At the same time, the pensioner is also entitled to the extraordinary aid of 250 euros as his pensionable earnings do not exceed 9,600 euros per year. With the calculation of both increases in his earnings, it follows that the total annual benefit amounts to 946 euros, far exceeding an additional pension.

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