By November, new developments are expected in efforts to regulate pension benefits and the legislative proposals submitted by MPs. As stated during the session of the Parliamentary Committee on Financial Affairs, the next meeting on the matter will be in two weeks. Meanwhile, the government is also progressing with the submission of a relevant bill.

During today’s session, the Parliamentary Committee discussed a bill concerning the voluntary renunciation of a pension by an official. According to the General Accountant present at the meeting, pension renunciation cannot be accompanied by instructions to donate the pension amount to a specific purpose or fund. Instead, the funds will remain in the General Fund. At the same time, attending MPs highlighted that currently, former officials receive their pension and can choose afterward where to contribute it.

Another point of discussion for the bill was the timeframe allowed for renouncing a pension. The Committee's Chair, Christiana Erotokritou, emphasized that this period cannot remain open indefinitely, and those elected or appointed should decide within days whether they will renounce the pension.

Finance Minister Makis Keravnos, who had just earlier presented the 2025 state budget to the Parliamentary Committee, also addressed the issue.

When asked about the bill on multiple pensions, which has not yet been submitted to Parliament, he revealed that it is under consultation and hinted that changes are forthcoming. More specifically, the Minister stated that discussions have resumed regarding the payment of a lump sum instead of a pension, which seems to constitutionally resolve the pension issue. Though he did not provide further details, the Minister stressed that they are exploring solutions and examples from other countries, noting that the bill will be presented to the Cabinet for approval before heading to Parliament, though without a specific timeline.

It’s worth recalling that the Cabinet had initially announced that the two bills would address:

A) The extension of the pension start age for all officials from the current 60 years to 65 years, and

B) The establishment of the option for officials holding a function, office, or position to renounce the state pension.

Τhe vast majority of legislative proposals on the issue have been deemed unconstitutional or contain elements that are viewed as such. Specifically, the bill by MP Irene Charalambides proposing a 90% tax on pension amounts above €70,000 is considered unconstitutional, and other proposals also seem to face significant legal challenges.