Towards a voluntary retirement program in the public sector

The Greek administrative Reform Ministry is working on a plan for voluntary retirement of civil servants by introducing incentives such as buying out notional insurance years, under the pressure of the memorandum commitment for 4,000 departures until the end of the year.

According to “Ta Nea” newspaper the setting will regard civil servants who will be included in the redundancy plan and are three years from their full pension entitlement.

Those who will join the plan will be able to receive all of the compensation provided or the buy-out of notional pensionable years.

The plan will be presented by Antonis Manitakis to the troika heads at the meeting today, Monday. According to reports, troika already has green-lighted its implementation.

Those who make use of the buying-out of notional years will receive a reduced pension.