More and More Retirees Work Due to Financial Difficulties

An increasing number of retirees in Greece are choosing to return to work due to difficult financial circumstances. Since January 1, 2024, when the 30% pension deduction for working retirees was abolished, many have returned to work.

Retirees of the former TEBE, after 40 years of work and high contributions, receive pensions below 1000 euros. Mr. Anastasis, 74 years old, works for a transport company and states that he works out of necessity, as neither the pension nor the salary is sufficient.

With the average main pension being below 1000 euros, tens of thousands of retirees continue to work to supplement their income or support their families. Mr. Giannis, a shopkeeper, along with his wife, also a retiree, continue to work to make ends meet.

According to the latest data, the number of working retirees exceeds 180,000, with an increasing trend. The president of the panhellenic association of pensioners of supplementary insurance, Aristotelis Kantas, notes that approximately 1,100,000 retirees receive up to 700 – 750 euros net monthly pension.

Experts emphasize that a new class of working-retirees has emerged in Greece due to the economic crisis.