Suvarna Garge (Editor)

Twelfth austerity package (Greece)

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Territorial extent
  
Greece

Bill published on
  
12 October 2015

First reading
  
12 October 2015

Enacted by
  
Hellenic Parliament

Introduced by
  
Government of Greece

Twelfth austerity package (Greece)

Date passed
  
16 October 2015 (For: 154; Against: 140)

The twelfth austerity package was voted by the Greek Parliament as part of the agreement between the Tsipras Government and the 'quartet' of creditors (the IMF, ECB, ESM and EU) for a third loan to Greece. The first round of package passed on 16 October 2015 by 154 votes for and 144 against.

Measures

The measures passed by this bill were the following:

  • Extent of force of the 3865/2010 Law will now include the public sector.
  • Pensions will be calculated as the sum of the basic and contributory pensions.
  • The minimum age for pensions is universally raised to 67 retroactively from 1 July 2015.
  • Public sector pensioners receiving reduced pension will suffer from a further 10% decrease in their pensions until they reach the universal minimum pension age. Disability pensions are excluded from this provision.
  • The status of armed forces personnel with regards to pensions reverts to the 3865/2010 Law regime. New pensioners of that category will have a right to a pension the year they become 61 years old, or after 40 years of service.
  • A special fund (ΑΚΑΓΕ) which partly pays for auxiliary pensions is abolished.
  • The provisions of the 4331/2015 Law are nullified.
  • Non-payment of the OAEE and ETAA social security funds is reinstated as a penal offense.

    • References

    Twelfth austerity package (Greece) Wikipedia
    (Text) CC BY-SA