Whatever the outcome of the current crisis in Greece, one issue isn’t going away: pensions.
Demographics haven't helped. The number of pensioners has been rising since 2009. That's either because the state has offered incentives to workers to retire as part of efforts to cut wage costs, or because workers themselves rushed to do so before the government raised the retirement age.
. ATHENS, Greece. REUTERS/Yannis Behrakis
A pensioner leans against the main door of a branch of the National Bank in Athens as he waits to receive part of his pension.
On average Greek men now retire at 63 and women at 59, according to government data.
Despite years of reforms, many Greeks can still retire early, especially workers in the public sector and professions classified as hazardous such as the army.
The average Greek pension is 833 euros ($904) a month. That's down from 1,350 euros in 2009, according to INE-GSEE, the institute of the country's largest labour union. Moreover, 45 percent of pensioners receive monthly payments below the poverty line of 665 euros, the government says.
Greece’s creditors agreed a tough deal earlier this month demanding, among other conditions, that Athens cut pensions.
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. IRAKLIO, Greece. REUTERS/Stefanos Rapanis
Pensioners outside a closed National Bank branch argue with a bank employee.
. IRAKLIO, Greece. REUTERS/Stefanos Rapanis
A pensioner reacts as she tries to enter a National Bank branch in Heraklion on the island of Crete.
. ATHENS, Greece. REUTERS/Yannis Behrakis
A bank manager helps a pensioner after she collapsed while waiting outside a bank in Athens.
. ATHENS, Greece. REUTERS/Jean-Paul Pelissier
A pensioner reacts as she obtains a priority ticket to get part of her pension.
. ATHENS, Greece. REUTERS/Christian Hartmann
A pensioner argues with an official as he tries to enter a National Bank branch.