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Greece, 75% of pensioners opt for early retirement

Sustainability of pension system at risk

04 December, 16:59

(ANSA) - ATHENS - Three in every four pensioners in Greece have managed to secure early retirement, inflicting a major blow to the sustainability of the country's pension system as daily Kathimerini online reports. Data presented on Wednesday by Labor Minister Yiannis Vroutsis showed that about 75% of public sector and IKA pensioners have taken early retirement, benefiting from various legal provisions that allow them to stop working before the age of 61 years.

"In the public sector 7.91% of pensioners retire between the ages of 26 and 50, 23.64% between 51 and 55, and 43.53% between 56 and 61," Vroutsis told a parliamentary committee. "In the Social Security Foundation (IKA), 4.44% of pensioners retire between the ages of 26 and 50, 12.83% retire between 51 and 55, and 58.61% retire between 56 and 61. In the so-called healthy funds, 91.6% of people retire before the national age of retirement," added Vroutsis.

Responding to pressing questions by deputies in Parliament, Vroutsis said that the special regulations mentioned above would not be abolished on his watch. "We will not force families to reverse the plans they have made," the minister said. (ANSA).

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