Labour Minister Giorgos Katrougalos, in an interview with Athens-Macedonian news agency, responding to media reports that pensioners will suffer a new shock come September, due to severe cuts in their pensions, stated that the vast majority of pensioners will not see any changes to their pensions in September.

“August is a slow-news month, so some people create political news out of thin air”, said the minister, clarifying that there will be a recalculation of the Social Insurance Institute (IKA) supplementary pensions in September. The potential pension reductions will be equivalent to those in public sector pensions in August that eventually affected slightly over 20% of supplementary pensions.

“Consequently some 80% of pensioners will not see any changes in September,” Katrougalos said.

“Those who receive one main and only one supplementary pension might even see some extra euros in their accounts, given that the deduction for public health services will be calculated on the actual income of the pensioner and not on some hypothetical one calculated before the bailout cuts have been implemented, as was the case in the past” he added.