There are two scenarios on the table regarding pension increases from January 1, 2027, with the percentage rise tied directly to the trajectory of economic growth and inflation. The estimates contained in the draft Budget serve as the basis for the relevant calculations.
The first scenario
Under the first scenario, main pensions would increase by 2.8%, affecting both old and new pension recipients alike. For existing retirees, the increase would be calculated on the basis of the recalculated pension amount — the figure shown on their annual statements — rather than the amount currently being paid out, meaning the actual increase received would be smaller.
The second scenario
The second scenario, on the other hand, points to a higher increase of 3.1%. According to sources, the economic policy team is considering adjusting the increase percentage, with the aim of reflecting updated estimates in the final state budget plan. Annual inflation has also played a significant role in these deliberations: according to data from the Hellenic Statistical Authority (ELSTAT), inflation jumped to 5.7% in October, up from 5% in September.
What the “HELIOS” system data reveals
Data from the “HELIOS” pension tracking system paints a revealing picture of the state of main pensions in Greece. Who are the biggest losers? Five categories of workers stand out: manual laborers, salaried employees, self-employed professionals, farmers, and scientists — all of whom continued to receive very low pension amounts in October, averaging just €777 gross per month.
According to the Unified Retirees Network, the “HELIOS” system data clearly illustrates the lasting negative impact on current pension levels caused by the collapse of wages during the Memorandum austerity era, as well as the economic fallout of the COVID-19 health crisis. By contrast, public sector pensions — a sector that experienced far shorter periods of unemployment during the financial crisis — reached €1,269 per month in October, highlighting the stark disparity between public and private sector retirement outcomes.
