Greek Reporter — Greece’s pension system is at risk of collapse from 360,000 pending applications for main pensions, supplementary pensions and retirement lump sums.
According to an Ethnos newspaper report, pending applications that are stuck in the pension funds’ drawers for three years constitute a fiscal time bomb, threatening to derail the whole pension system.
Ethnos reports that if pension funds pay all their obligations to prospective retirees, they need 4.8 billion euros 2.8 billion more than currently available in the funds.
Those who receive pensions from more than one fund or expect supplementary pensions are in the worst position because of the incompatibility of systems between security funds which makes it difficult to calculate the exact amounts due .
