Greece's draft budget plans €400 for every pensioner over 65 in November and a 2.8% rise in 2027, but the law still says €300

Greece's draft budget for 2027 includes two things for pensioners: a €400 payment in November 2026 for every pensioner over 65, with no income test, and a pension rise from 1 January 2027 that the budget calculates at 2.8%.²⁴⁵ Neither is final yet.²³ This guide sets out what the documents say, who would qualify and what is still open.

What does the government plan for pensioners?

The Ministry of National Economy and Finance (Υπουργείο Εθνικής Οικονομίας και Οικονομικών, Ypourgeio Ethnikis Oikonomias kai Oikonomikon) tabled the draft 2027 state budget at Parliament's Standing Committee on Economic Affairs on 5 October 2026.¹ The draft says that from November 2026 the annual support for pensioners, people with disabilities and uninsured older people "rises to €400 net" and is extended to all pensioners over 65 (our translation).² The draft describes the increase as permanent.² The draft counts about 2.2 million beneficiaries, 270,000 of them new, at a total cost of €879 million.² By our calculation, the €879 million is the €578 million the budget lists for the original €300 payment plus €301 million for raising it to €400 and extending it to all pensioners over 65.²

Is the €400 payment law yet?

No. The November payment rests on article 72 of law 5217/2025, which on 9 October 2026 still set the amount at €300.³ The same article still limits annual family income in the previous tax year to €25,000 for an unmarried person and €35,000 for a married person.³⁵ It also sets property limits of €300,000 for an unmarried person and €400,000 for a married person.³⁵ Reports describe these limits as abolished, but that reflects the government's announcement, not a change in the law.⁴⁵ We searched for an amendment raising the payment to €400 and found none tabled by 9 October 2026, so the text in force is unchanged.³

Who would get the €400 in November 2026?

According to the draft budget, the €400 would go to all pensioners over 65, pensioners over 60 who receive only a survivor's pension, people with disabilities of any age, and uninsured older people.²

Two state bodies pay these groups.² e-ΕΦΚΑ (Ηλεκτρονικός Εθνικός Φορέας Κοινωνικής Ασφάλισης, Ilektronikos Ethnikos Foreas Koinonikis Asfalisis) is the national social insurance fund, and ΟΠΕΚΑ (Οργανισμός Προνοιακών Επιδομάτων και Κοινωνικής Αλληλεγγύης, Organismos Pronoiakon Epidomaton kai Koinonikis Allilengyis) is the state agency for welfare benefits.²

ERT and Taxrevenue.gr give the same breakdown: 1,779,112 pensioners over 65, 19,753 people aged 61 to 65 on a survivor's pension, 176,578 disability pensioners of e-ΕΦΚΑ, 171,738 recipients of ΟΠΕΚΑ disability allowances, and 49,570 uninsured older people.⁴⁸ By our calculation, that adds up to 2,196,751 people.⁴⁸

Old-age pensioners under 65 are left out, whatever their pension, including people who retired early.⁶ NewsIT puts their number at about 300,000.⁶ Under the current law, the age test is 65 completed by 31 December of the previous year, and reports apply that as 31 December 2025.³⁶⁷

When is the payment made, and do I need to apply?

Article 72 of law 5217/2025 says the support is paid by 30 November each year.³ Ethnos and Taxrevenue.gr report that the payment date is 30 November 2026, which is a Monday by our calendar check.⁷⁸ Both report that the money goes automatically to beneficiaries' bank accounts and that no application is needed.⁷⁸ Under the law in force, the payment is tax-free and cannot be assigned or seized, and the draft budget describes the €400 as net.³²

How much will pensions rise in January 2027?

The draft budget says that from 1 January 2027 all pensions rise "based on the average of inflation and GDP growth, without offsetting the personal difference" (our translation).² On the draft's macroeconomic estimates, also taking 2025 data into account, "the increase is calculated at 2.8%", at a cost of €807 million.²

The 2.8% is a projection, not the final figure.²⁹ Article 14 of law 4387/2016 sets the rule: pensions rise each year by a coefficient made up 50% of the change in GDP and 50% of the change in the consumer price index of the previous year, and not above the annual change in that index.⁹ A joint ministerial decision (κοινή υπουργική απόφαση, koini ypourgiki apofasi, or ΚΥΑ) fixes the coefficient, issued by 31 December of the previous year using the figures in the budget's introductory report.⁹¹⁰ For 2026 the decision was dated 5 December 2025 and set the coefficient at 1.024, a 2.4% rise.¹⁰ The draft 2027 budget expects growth of 2% and domestic inflation of 3.8% in 2026.² By our calculation, the simple average of those two figures is 2.9%, not 2.8%; the draft does not set out which measures or 2025 data produce its 2.8%.²

The "personal difference" (προσωπική διαφορά, prosopiki diafora) is the part of a pension above its amount as recalculated under law 4387/2016.⁹ It is still paid, but the law offsets annual rises against it.⁹ In 2026, half of the annual rise was offset against it.² The draft budget lists ending the offset from 2027 among measures "legislated by September 2026" (our translation), though we have not traced the provision itself.² For where pensions stand now, see our guide to Greek pensions in September 2026.

A 2.8% rise would add €28 a month, before tax, to a €1,000 gross pension, by our calculation.²

The national pension is €446.87 gross a month.⁵ By our calculation, if the same 2.8% applies to it, it would rise to €459.38 a month in 2027.⁵²

Will tax take part of the 2027 rise?

Ta Nea and NewsIT report that the 2027 rise is calculated on the gross pension, and that the health contribution and income tax then come off it.¹¹¹² Pensioners would therefore receive less than the headline rise, and those who pay income tax less again.¹¹¹² NewsIT calculated that a €1,050 gross pension would gain €29.40 gross and about €21.82 net a month.¹² The draft budget itself expects personal income-tax revenue to grow in 2027, partly because of higher pensions.²

What changes for survivors' pensions?

The draft budget says the 50% cut to survivors' pensions after three years is abolished, at a cost of €48 million in 2027.² It lists this among measures legislated by September 2026, with a cost of €16 million in 2026.² The draft does not say exactly who benefits or from which date.²

I live abroad. Will I get the €400?

We do not know. Article 72 of law 5217/2025, as currently worded, looks at the pension paid in September of each year and, as we read it, sets no residence condition.³ None of the reports we read mention one either.⁴⁷ Until the new provision is published, pensioners abroad can only ask e-ΕΦΚΑ directly or wait for its text.³