1.7 million will receive a 7.75% boost at the end of January. pensionersand more than 841,000 people would benefit from its abolition. solidarity gathering. The increase in pensioners’ income from these two measures exceeds 1.1 billion euros, according to the 2023 budget submitted to Parliament, while, according to the bill Ministry of Labor which is being discussed in Parliament, another 265,367 pensioners will receive 250 euros (verification), for a total value of 247 million euros. In 2023 pensions will grow for the first time in 12 years, while budget for this reason, to provide for an increase in public funding for EFKA, as well as to keep the surplus at a satisfactory level of 758 million euros.

In particular, according to budget forecasts, pension growth is fixed at 7.75%, which corresponds to 50% of the growth rate projected for this year, i.e. 5.6%, and average inflation, which is estimated at 9.7%. In total, retirees will share the $909 million budgeted for wage increases next year, and will also benefit from an additional $250 million from the abolition of the solidarity levy.

According to the final estimates included in the 2023 budget, unemployment will remain at this year’s level, namely at 12.6% from 12.7% this year, and, accordingly, employment, which will grow by only 0.2% in 2023 from 4.7% in 2022. .

This will cause the surplus of social security institutions to remain particularly high. So while it is expected to close at +1.72bn at the end of this year, it is expected to close at +1.27bn in 2023 and remain at 441m. Specifically for insurance funds and , basically, FFK, the budget says. that 2023 will show a surplus of 749 million, down 243 million from current year estimates.

Revenue is expected to increase, mainly due to an increase in income from insurance premiums by 262 million, as well as an increase in government funding by 527 million due to an increase in the subsidy to cover pension costs (basic insurance payments). When increasing income from contributions, the Ministry of Finance mainly calculates income from an increase in employment, while obviously also taking into account the increase in contributions for the self-employed.

Of course, EFKA’s expenses are also expected to increase by $1.099 billion. At the same time, the main role is played by the increase in basic pensions by 7.75%, while the corresponding total costs increase by 1.42 billion compared to 2022. In general, the persistence of a decrease in insurance premiums by 3 percentage points is estimated to reduce EFKA’s income and the State Employment Service (DYPA – t.OAED) for 998.4 million euros (269.5 million and 628.9 million, respectively).

Overall, DYPA will report a surplus of $139 million in 2023, down from $260 million this year, with a $222 million cut in funds for employment programs (to $657 million).