After having first contacted the troika, Labour minister Yiorgos Koutroumanis announced today, during the meeting of the ministerial council that the discussed cuts in supplementary pensions will be postponed for at least one to two months.

Nevertheless, he said that the new changes would be made according to both the mid-term programme and the memorandum and is part of the general structural changes plan concerning the insurance funds.

The present postponement is due to the reactions from within the governmental scheme. In particular, it was decided to be suspended because of the ND members’ statements saying that they would not vote in favour of the decrease in the supplementary pension cuts 

Koutroumanis said that the green light for the two-month grace period has been given by the troika, in order for the plan to be tabled and voted in parliament. Moreover, he said he would welcome relevant proposals and betterment amendments.

The premier Lucas Papademos agreed completely with the minister whereas, ND Stavros Dimas appeared moderate. 

As Koutroumanis said, the fund merge appears necessary as otherwise, funds will be unable to survive each on their own.