Reforming the Greek pension system: balancing sustainability and adequacy

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With a view to implementing the third Memorandum of Understanding, Greece adopted further reform actions to ensure the long-term sustainability of the pension system. These include, among others, implementation in full of the 2010 reform, limitation of early retirement, integration of all social insurance funds into one single Fund, decrease of pension expenditure and increase of revenues. Some of the reforms are austerity driven and are expected to have a negative impact on pension adequacy.

Authors: D. Ziomas, M. Theodoroulakis and I. Sakellis