The government has planned a "barrage" of payments to employees, pensioners and vulnerable social groups for the coming period, such as the 2.4% pension increase for some two million pensioners in their January pension, which is expected to be paid before Christmas.
The annual increase in pensions is directly linked to economic growth, as it is equal to half the sum of the inflation and economic growth rates.
Labour and Social Security Minister Niki Kerameus announced that the payment of the higher January pensions will be completed by December 23.
It is noted that pensions increased by 7.75% in 2023 and by 3% in 2024, resulting in a cumulative increase of 14% over the last three years.
At the same time, one-off financial aid of 100-200 euros will be given to approximately 700,000 pensioners with a "personal difference" of more than 10 euros, within December. According to Kerameus, the payment of the personal difference allowance is scheduled to take place by December 18.
At the same time, in December, the regular benefits of the Organisation for Welfare Benefits and Social Solidarity (OPEKA) will be paid.
In addition, as already announced, an extraordinary benefit of 200 euros will be paid to vulnerable social groups, such as beneficiaries of e-EFKA disability benefits, beneficiaries of the absolute disability benefit for former OGA pensioners, who receive only the basic pension if they have a lifetime disability rate of 100%, beneficiaries of the sickness and disability benefit for State pensioners, beneficiaries of the extra-institutional benefit, which is granted by e-EFKA, beneficiaries of the OPEKA disability benefit and uninsured elderly people.
Recipients of child benefit will receive an additional installment from OPEKA, while there are plans to give an additional 50% of the monthly benefit to those receiving the Minimum Guaranteed Income.
The Christmas bonus must be paid to private sector employees by December 21st at the latest, as stipulated by law. Given that December 21st this year falls on a Saturday, employers must ensure its payment by Friday, December 20, 2024.
According to the law, all employees working in a dependent employment relationship in the private sector have the right to receive a Christmas bonus from their employers, which is equal to one monthly salary for those paid with a salary and 25 daily wages for those paid on a daily basis.
Employees will also benefit from the new reduction in social security contributions, which will be implemented at the beginning of the new year. As of January 1, employee social security contributions to EOPYY will be reduced by one percentage point, with 0.5 percentage points reduced from the amount paid by employees and 0.5 percentage points from that paid by employers.
Since 2019, social security contributions have been reduced by 5.4 percentage points and, by 2027, the total reduction will be around 5.9 percentage points.
According to the labour ministry, with the new reduction in contributions, both employers, through the further reduction of non-wage costs, and employees benefit through the increase in their salaries.
