Greece announces package of economic measures!

A new package of economic measures is expected to bring significant changes for pensioners and public- and private-sector employees in Greece. According to government announcements, pensioners will receive an additional payment of 400 euros every November, while pay rises and other benefits are also expected in the coming years, reports Protothema.

The 400-euro payment will begin in November 2026 and will be provided permanently every year. The number of beneficiaries is expected to increase from 1.87 million to around 2.2 million, as income and wealth criteria will be abolished. The main condition will be that the pensioner has reached the age of 65.

The measure will also be extended to people with disabilities and uninsured elderly people.

The payment has been increased by 100 euros, from 300 to 400 euros, bringing it closer to the current national pension, which stands at around 446 euros.

Increases for all pensioners

Another important change is expected at the end of December: the definitive abolition of the “personal difference” mechanism.

This will allow all around 2.5 million pensioners to receive the full annual increase. Around 670,000 pensioners who still have a personal difference will also receive the full increase.

According to examples presented by the prime minister, a pensioner receiving 823 euros will receive an annual increase of 208 euros, while, together with the 400-euro payment, the annual benefit will reach 608 euros.

For a pensioner with a pension of 1,086 euros, the annual benefit will be 684 euros, while for a pension of 1,716 euros, the benefit will reach 849 euros.

500-euro bonus for public-sector employees

From December 2027, around 720,000 public-sector employees are expected to receive an annual gross Christmas bonus of 500 euros.

The measure is considered partly a restoration of the 13th salary, while pension contributions will also be calculated on the bonus, affecting employees’ future benefits after retirement.

Public administration employees at all salary levels will also receive a 30-euro increase from April 1, 2027.

Minimum wage heading toward 1,000 euros

Private-sector employees paid the minimum wage are also expected to benefit from successive increases.

Under the plan presented, the minimum wage will exceed 950 euros in April 2027, while the aim is for it to reach 1,000 euros in January 2028.

The increase will also affect the wages of employees covered by the system of three-year work-experience increments.

According to the example provided, an employee with one three-year increment could earn around 1,045 euros after the increase.

Pay rises for experienced employees

Private-sector employees with contracts receive an additional 10% for each three-year work-experience increment, up to three increments. This means that an employee with at least nine years of experience can receive an additional 30% on top of the basic salary.

Meanwhile, from April 1, 2027, social security contributions are also expected to be reduced by 0.5 percentage points. The measure is expected to increase employees’ net income while simultaneously reducing labor costs for businesses.

According to estimates, the reduction in contributions will cost the social security fund around 220 million euros a year.