Today (20/10), Labor Minister Giannis Panagiotou is set to present his proposal concerning the hotly debated 12% pension penalty to the Social Insurance Council.

While Minister Panagiotou does not intend to universally abolish the 12% penalty for those who have chosen or will choose to retire at 63 instead of 65, he does seem poised to eliminate the penalty for workers meeting specific criteria. More precisely, based on the Minister's repeated statements, this relief will be granted to workers who have contributed to the Social Insurance Fund for a certain number of years. It is estimated that this modification will affect no more than 30% of pensioners.

It's crucial to note that the proposed changes will not be retroactive, meaning pensioners will not receive reimbursements for the 12% penalty deductions made in previous years.