Labour Min Vroutsis: No cuts, only increases in pensions

Labour and Social Affairs Minister Yiannis Vroutsis reassured on Thursday in parliament that there will be not cuts in pensions, on the contrary the new social security bill will foresee hikes in the main and supplementary pensions. He said that the government is working hard in order to be ready to table a new social security reform in parliament by the end of January.

Vroutsis said that the new social security system will solve the Gordian knot of the problem created in the last decade and will provide increases in the main and the supplementary pensions.

"No reductions but only increases in the pensions from now on. The new social security bill that will be tabled to parliament in a few days will incorporate the social security expenditure, which is totally safeguarded, and will be accompanied by a totally precise actuarial report that will confirm that we meet all the social security rules and that it is viable," noted the minister.

"For the first time after 10 years there will be hikes in pensions and finally we will have a sustainable social security system with prospect and future," Vroutsis stressed.