Greek Labour Minister Efi Achtsioglou on Wednesday signed a ministerial decision expanding a measure to settle private sector arrears to pension funds up to 120 tranches.

Under the decision, also signed by Social Insurance Deputy Minister Anastasios Petropoulos, the current ceiling of 50,000 euros to enter the settlement mechanism is expanded to 125,000 euros, surcharges and penalty interest are reduced by up to 85 pct, while authorities are suspending any forced debt collection measures against debtors.