Pension reform is a major sticking point in Greece’s bailout talks. But with 45% of retirees under the poverty line, many wonder how much more they can takeFive years ago, Sissy Vovou’s pension was €1,330 (£953) and landed in her back account 14 times a year: you used to get, she wistfully recalls, a full extra month at Christmas, plus a half each at Easter and for the summer. Now it is a monthly €1,050 – and there are only 12 months in the Greek pensioner’s year. “In all,” she said, “I’ve lost 30% of my income. And I’m one of the lucky ones. I’m in the top fifth; 80% of Greek pensioners are worse off than me.” Retired parents are having to help their adult children. And they’re demanding we cut them even more? It’s just wrong. Related: Unsustainable futures? The Greek pensions dilemma explained Continue reading...
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