Greece pension and wage projections for 2027

The Greek government is revising its 2027 budget projections, anticipating higher pension increases due to rising inflation. While the initial estimate was 2.8%, new forecasts suggest a pension increase between 2.9% and 3%, driven by inflation rates expected to reach between 3.8% and 4% in 2026.

Approximately 2.2 million retirees are expected to receive a 400 euro financial boost in November. However, the impact of these increases varies. About 600,000 retirees with a 'personal difference' (prosopaiki diaphora) will see a reduced benefit, as the increase applies only to the base pension and not the personal difference component. Additionally, 1.3 million recipients of supplementary pensions (ETEAEP) are expected to remain without increases due to zero-deficit clauses, despite the sector showing a surplus.

Regarding wages, nominal compensation for employees is projected to rise by 3.9% in 2027, though real wage growth is estimated at only 1.4% after accounting for inflation. Furthermore, approximately 200,000 workers are expected to receive a 10% salary increase in January 2027 following the completion of their first three-year work cycle since the reinstatement of seniority-based increments.