Greece considers raising public sector retirement age to 68

The Greek Ministry of Finance is considering a horizontal increase in the mandatory retirement age for public sector employees, potentially raising it from 67 to 68 years. This proposal aims to address a projected shortage of experienced personnel, particularly following the mass retirement of the ‘Metapolitefsi generation’ expected in 2027.

Financially, the move is intended to delay rising pension expenditures and avoid the need for immediate new hires. The Ministry of Finance has projected a pension fund deficit exceeding 1.3 billion euros by 2030. Under the proposed scenario, the increase would be voluntary, allowing employees to remain in service with increased pensionable earnings.

Broader demographic trends and actuarial studies suggest that retirement age adjustments may become necessary across Europe to manage aging populations. Experts note that countries like Germany and Denmark are already implementing or considering measures that could push retirement ages for younger generations toward 69 or 70 years.