Pension reform bill submission to parliament postponed to September

Minister of Labour and Social Insurance Marinos Mousiouttas announced on Monday that the government has postponed the submission of the pension reform bill to the House of Representatives from July to September. The decision follows a meeting of the Labour Advisory Board, where the Minister acknowledged social partners' requests for more time to discuss the proposal. Unions, including SEK, PEO, and DEOK, had expressed strong opposition to the previous plan, arguing that the reform was fragmented and failed to address the adequacy of pension incomes. Employers' organizations and unions have emphasized the need for a comprehensive approach covering all three pillars of the pension system. Key unresolved issues include the amount of the minimum pension, the reduction of the 12% penalty, and the investment policy of the Social Insurance Fund. During the summer, the government will provide the bill to social partners for further dialogue. The ultimate goal is to present the finalized outcome to the parliamentary committee when the House resumes in September.