Greece set to cut monthly pensions by 11%

The government’s alternative plan for pensions foresees an average cut of more than 11 percent on monthly payments that exceed 1,000 euros, along with the radical reform of the social security system. This will be Athens’s attempt at preventing the country’s creditors from applying in full the tough measures included in the third bailout agreement.

The plan also includes the imposition of a ceiling close to 2,000 euros on the monthly sum of pensions paid to a recipient, from 2,350 currently per Social Security Foundation (IKA) recipient, 2,774 euros in special funds and 3,360 euros to those receiving two pensions .... http://www.ekathimerini.com