Greece economic updates: pension schedules, social security cuts, and retail trends

Several economic updates affect Greek citizens and businesses regarding social security, pensions, and consumer trends.

Starting April 1, 2027, social security contributions for private-sector employees will decrease by 0.5 percentage points, from 13.37% to 12.87%. This reduction is expected to increase net monthly wages, though the exact impact on take-home pay will depend on subsequent income tax calculations.

Regarding pensions, November 2026 payments will be distributed in two phases due to the October 28 national holiday. Non-salaried pensioners and those retired after January 1, 2017, are scheduled for payment around October 26, while IKA and public sector pensioners will receive funds around October 29. The holiday may allow funds to appear in accounts as early as October 27.

In the retail sector, preparations are underway for Black Friday on November 27, 2026, with many businesses starting promotions early. This comes amid economic pressures, as inflation reached 5.1% in September and many households report financial difficulties. Additionally, rent refunds for 2025 are scheduled to be paid by November 30, 2026, with maximum amounts for primary residences set at 800 euros.