Barrage of increases in main pensions and unemployment benefits


A barrage of increases in main pensions and unemployment benefits is foreseen in the introductory report of the budget for 2024.

Specifically, it foresees that the expenses of the Social Security Organizations (e-EFKA, DYPA, EOPYY, etc.) are expected to be increased by 380 million euros compared to 2023.

This change is mainly due to the increase of 528 million euros in social benefits, which reflects:

*The projected increase of 907 million euros in the pension expenditure and more specifically, the expenditure on the main pensions:

  • Adjustment of pensions based on the rate resulting from the sum of the annual rate of change of GDP and the rate of change of the average annual General Consumer Price Index of the previous year, which is expected to amount to approximately 430 million euros.
  • Anticipated increase in the rate of award of new pensions and

* Increase in DYPA benefits:

  • The effect of the increase in the minimum wage from April 1, 2023 (there will also be a positive effect from the expected increase in the minimum wage in the spring of 2024).
  • The extension of the maternity allowance to freelancers and farmers to 9 months.

The above increases are partially offset by the projected reduction, relative to 2023, of the expense for the payment of lump sum benefits, as it is estimated that the largest amount of the related unpaid obligations will be paid within this year.

In addition, an increase of 153 and 81 million euros is foreseen in the social benefits in kind (pharmaceutical expenses, health care provider expenses) of the EOPYY and the investment costs of the DYPA, respectively.

Finally, the costs for employee salaries have increased by 32 million euros as a result of the implementation from January 1, 2024 of the reformed payroll of public sector employees.

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