Greek Retirees See Supplementary Pensions Cut Up to 50%

suntaxiouxoi-atmAbout 150,000 pensioners saw their supplementary pensions slashed by up to 50 percent when they went to the ATMs on Friday.

This is the second category of pensioners who are seeing their pensions undergo reductions. The first category was the 67,000 pensioners who saw significantly lower amounts on their checks in August.

The third and final round of cuts to other categories of pensioners are expected in October.

The supplementary pension cuts are part of the reforms agreed in June between Greece and creditors for the first review of the bailout program.

The pensioners who saw their supplementary pensions reduced belong to security funds in shipping and tourism, retail clerks, former Credit Bank employees, as well as pensioners whose pensions are not protected from the 1,300 euro limit.