Government and creditors disagree on employer contributions hike

The Ministry of Labor insists on its proposal for a gradual 3% increase of the social insurance contributions payable by…

The Ministry of Labor insists on its proposal for a gradual 3% increase of the social insurance contributions payable by employers, in an effort to restrict the cut in pensions.

The creditors and a number of employer groups however have rejected the measure, with the Hellenic Federation of Enterprises (SEV) claiming that the hike will result in further unemployment, while destined arguing that the targets set are excessively optimistic.

According to the Labor Ministry’s plan, employers would face a 1.5% increase in 2016, 0.5% in 2017 and a further 1% in 2018. In July 2014 the employer social insurance contributions had been reduced by 2.9%, while those of employees were reduced by 1%.

In any case, the Ministry will have to present the new draft on the pension system reform to the political secretariat of SYRIZA in the next few days, so that it may be reviewed by the relevant government bodies and in turn be tabled in Parliament by the end of November.

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