Greek pension cut cancelled


The Greek government has cancelled a planned cut in pensions that could have led to 1.4 million pensioners (more than half the total) losing at least 14% of their pensions from January 2019. 


The cut was included in legislation passed in 2017 as part of the Greek government‘s commitment to the European institutions to balance its budget. However, with the government’s financial position improving, Eurozone finance ministers agreed on 3 December that Greece had fulfilled its commitments and the pension cuts were no longer necessary.