A man walks past a shop in downtown Athens. [Intime News]
The 10-year financial crisis disproportionately hit the incomes of private sector employees compared to those of civil servants.
Greece’s creditors also imposed pension cuts that hit the private sector the hardest. The most recent pensioners have been affected more than the older ones too.
The average monthly pension now stands at €843.63 pretax and 60% of all pensioners get a monthly pension of €1,000 or less. But, while the average pension for new private sector pensioners is €760.16, pretax, that of civil servants is €1,327.67, which is 74.6% higher.
There is also a disparity between men and women pensioners, with the men’s pensions averaging about €250 more than women’s.
The crushing austerity imposed on an essentially bankrupt Greece by its creditors at least reduced the number of young full pensioners, with some of them being in their 30s.