Greece's draft bill would delay the wage index for pensions and contributions to 2028
Article 33 of the Labour Ministry's bill in public consultation would keep several social-security amounts tied to consumer prices until 31 December 2027. The press call the system that follows the wage index and report that this is its third postponement.
5We read 5 sources, all in Greek, 1 of them official documents, including the text of article 33 of the Labour Ministry's draft bill on opengov.gr (consultation #1413), read on 7 November 2026. We have not read the bill's explanatory memorandum, the current text of law 4387/2016 or law 5255/2025 itself., so you can read this in 4 minutes. What we checked ↓
Does this affect you?
- Self-employed people, liberal professionals and farmers insured with the former ΟΓΑ
- Nothing changes yet, because the bill is in public consultation.1 If it passes as drafted, by our reading the contribution categories that apply to them would keep being adjusted by the Consumer Price Index until 31 December 2027.1
- Private-sector employees, employers and public servants
- Nothing changes yet.1 The draft would apply the same extension to the ceiling on insurable earnings, the maximum pay on which contributions are charged, for public servants and for private-sector employees and employers.1
- People whose pension will be calculated from their past earnings
- Nothing changes yet.1 Paragraph 3 of the draft would extend to 31 December 2027 the reference period for adjusting pensionable earnings, and move the start of the next one to 1 January 2028.1
What to do There is nothing to do now: article 33 is a draft, not law.1 Anyone who wants to comment can do so on opengov.gr until 23:00 on Thursday 19 November 2026.1
At a glance
- Article 33 of a Greek Labour Ministry draft bill would extend to 31 December 2027 the period in which pensionable earnings, insurable earnings and insurance-category amounts are adjusted by the annual change in the Consumer Price Index.1
- The same article would move to 1 January 2028 the start of the next reference period, which Mononews, Dnews and Proson describe as the switch to a wage index; Mononews and Dnews call it the third postponement.1234
- The provision is a draft: the bill was posted for public consultation on opengov.gr on 5 November 2026, and comments are open until 23:00 on 19 November 2026.1
Greece adjusts several social-security amounts each year by the change in consumer prices, and a draft bill would keep it that way for one more year.1 By our reading, article 33 of the Labour Ministry's draft bill moves the end of the inflation-based adjustment period to 31 December 2027 and the start of the next reference period to 1 January 2028.1 Greek outlets call the system that follows the wage index, and Mononews and Dnews report that this is the third time its start has been postponed.23
The provision is not law. The Ministry of Labour and Social Security (Υπουργείο Εργασίας και Κοινωνικής Ασφάλισης, Ypourgeio Ergasias kai Koinonikis Asfalisis) posted the bill on opengov.gr, the government's consultation website, at 23:05 on 5 November 2026 as consultation #1413, and comments are open until 23:00 on Thursday 19 November 2026.1 The same bill carries the new rules on artificial intelligence and platform work, which we explain in our article on the AI-at-work bill.1
What would article 33 change?
Article 33 amends article 38 of law 5167/2024, which the draft describes as the provision extending the adjustment of pensionable earnings, insurable earnings and insurance-category amounts "on the basis of the annual change in the Consumer Price Index" (in our translation).1 The change is a swap of dates.1 In paragraph 1, "31 December 2026" becomes "31 December 2027"; in paragraph 2, "1 January 2027" becomes "1 January 2028"; in paragraph 3, both dates move in the same way.11
The closing date of the periods in the listed provisions of law 4387/2016 is moved to 31 December 202631 December 2027.1
The start of the reference period in the listed provisions is moved to 1 January 20271 January 2028.1
By our reading, paragraph 1 sets the end of the period in which the amounts follow the Consumer Price Index, and paragraph 2 sets the start of the reference period for the system that comes next.1 The words "wage index" («δείκτης μισθών») do not appear in article 33 itself; the term comes from the press reports of the draft.123
By our reading, Greece's inflation-based adjustment of contributions and pensionable earnings would run until 31 December 2027.1
Which amounts are covered?
The new paragraph 1 of article 38 lists provisions of law 4387/2016 that set these amounts:1
- the ceiling on insurable earnings for public servants (article 5);1
- the insurance categories for lump-sum benefits, known in Greek as εφάπαξ (article 35);1
- the ceiling on insurable earnings for private-sector employees and employers (article 38);1
- the insurance categories for the self-employed and liberal professions (article 39);1
- the insurance categories for people insured with the former ΟΓΑ (Οργανισμός Γεωργικών Ασφαλίσεων, Organismos Georgikon Asfaliseon), the farmers' insurance fund (article 40);1
- contributions for health care (article 41);1
- contributions for supplementary pensions (article 97).1
Paragraph 3 deals separately with pensionable earnings, which Mononews describes as the earnings used to calculate the contributory pension.12 It extends the reference period in article 8(4) of law 4387/2016 to 31 December 2027 and moves the start of the next reference period to 1 January 2028.1
What does this mean for 2027?
Dnews reports that for one more year the adjustments will follow the annual change in the Consumer Price Index (Δείκτης Τιμών Καταναλωτή, ΔΤΚ) rather than the new wage index, and Mononews that they will stay tied to inflation.32 By our reading, the text of article 33 points the same way, because it extends the CPI-based period to 31 December 2027.1
Article 33 does not set any 2027 amounts or rates.1 None of the reports we read says whether adjusting by prices rather than wages makes 2027 amounts higher or lower.234
Why has the wage index been delayed again?
Mononews, Dnews and Proson attribute the delay to unfinished work at ΕΛΣΤΑΤ (Ελληνική Στατιστική Αρχή, Elliniki Statistiki Archi), the Hellenic Statistical Authority, on building and checking the index.234 Mononews writes that the available data need further processing and checking, mainly on the pay of staff at legal entities under public law (νομικά πρόσωπα δημοσίου δικαίου, ΝΠΔΔ).2 Article 33 itself gives no reason, and we found no statement from ΕΛΣΤΑΤ.1
How many times has the start been postponed?
According to Mononews, Dnews and Proson, law 5167/2024 first moved the start from 1 January 2025 to 1 January 2026.234 The same outlets report that law 5255/2025 extended the transition to 31 December 2026, with the start on 1 January 2027.234 Law 5255/2025 was published in the Government Gazette (ΦΕΚ, Fyllo Efimeridas tis Kyverniseos) on 28 November 2025, issue Α΄ 219.5 The three outlets name article 56 of that law, but Taxheaven's table of contents lists article 55 as the article amending article 38 of law 5167/2024, and gives article 56 a different subject, staff contracts in co-financed social-inclusion structures.2345 By our reading, article 38 of law 5167/2024 currently carries the dates 31 December 2026 and 1 January 2027, which is consistent with that second extension, and article 33 replaces them.1 Mononews and Dnews call the new draft the third postponement.23
What happens next?
Public comments on the bill close at 23:00 on 19 November 2026.1 Until the bill is tabled, passed by Parliament and published in the Government Gazette, article 33 remains a proposal, and we found no date for tabling or a vote.1
What we checked
Highlights from our fact-check against the original Greek documents. Every claim in the article went through the same check.
- Got it wrong
Dnews, Proson and Mononews report that the second postponement was made by article 56 of law 5255/2025.234
Taxheaven's table of contents for law 5255/2025 lists article 55 as the article amending article 38 of law 5167/2024 on CPI-based adjustment; article 56 deals with staff contracts in co-financed social-inclusion structures.5
- Confirmed
Dnews reports that a provision of the draft bill extends the period to 31 December 2027, and Proson that the new system starts on 1 January 2028.34
Article 33 replaces '31 December 2026' with '31 December 2027' and '1 January 2027' with '1 January 2028' in article 38 of law 5167/2024.1
- Confirmed
Proson lists the ceiling on public servants' insurable earnings and the insurance categories for lump-sum benefits among the amounts covered.4
Both appear in the new article 38(1), which refers to articles 5 and 35 of law 4387/2016.1
What we don't know yet
- Whether article 33 will survive unchanged into the bill the ministry tables in Parliament, and when the bill will be tabled and voted.
- When ΕΛΣΤΑΤ will finish the index, and whether ΕΛΣΤΑΤ itself has said anything about the delay.
- Whether adjusting by prices rather than wages makes 2027 contributions and pensionable earnings higher or lower: none of the sources we read compares the two.
- What the 2027 adjustment rate will be, and when e-ΕΦΚΑ (Ηλεκτρονικός Εθνικός Φορέας Κοινωνικής Ασφάλισης, Ilektronikos Ethnikos Foreas Koinonikis Asfalisis), Greece's social-security agency, will publish the 2027 contribution amounts.
- The exact text of article 55 of law 5255/2025, which Taxheaven's table of contents lists as the amendment to article 38 of law 5167/2024: we have read only its heading.
««Στο άρθρο 38 του ν. 5167/2024 (Α’ 207), περί της παράτασης της αναπροσαρμογής των συντάξιμων αποδοχών, των ασφαλιστέων αποδοχών και των ποσών των ασφαλιστικών κατηγοριών βάσει της ετήσιας μεταβολής του Δείκτη Τιμών Καταναλωτή, επέρχονται οι ακόλουθες τροποποιήσεις: α) στην παρ. 1, οι λέξεις «31η Δεκεμβρίου 2026» αντικαθίστανται από τις λέξεις «31η Δεκεμβρίου 2027», β) στην παρ. 2, οι λέξεις «1η Ιανουαρίου 2027» αντικαθίστανται από τις λέξεις «1η Ιανουαρίου 2028» …»»
"In article 38 of law 5167/2024 (A' 207), on the extension of the adjustment of pensionable earnings, insurable earnings and the amounts of the insurance categories on the basis of the annual change in the Consumer Price Index, the following amendments are made: (a) in para. 1, the words '31 December 2026' are replaced by the words '31 December 2027'; (b) in para. 2, the words '1 January 2027' are replaced by the words '1 January 2028' …" (in our translation)
««3. Το χρονικό διάστημα αναφοράς του πρώτου εδαφίου της περ. α’ της παρ. 4 του άρθρου 8 του ν. 4387/2016, περί αναπροσαρμογής των συντάξιμων αποδοχών, παρατείνεται έως τις 31 Δεκεμβρίου 2027, και η έναρξη του χρονικού διαστήματος αναφοράς του δευτέρου εδαφίου της περ. α’ της παρ. 4 του άρθρου 8 του ίδιου νόμου, μετατίθεται για την 1η Ιανουαρίου 2028.»»
"3. The reference period of the first sentence of point (a) of paragraph 4 of article 8 of law 4387/2016, on the adjustment of pensionable earnings, is extended until 31 December 2027, and the start of the reference period of the second sentence of point (a) of paragraph 4 of article 8 of the same law is moved to 1 January 2028." (in our translation)
Sources
- Υπουργείο Εργασίας και Κοινωνικής Ασφάλισης (opengov.gr) · Κανόνες στη χρήση της τεχνητής νοημοσύνης στην αγορά εργασίας – Προστασία εργαζομένων στις πλατφόρμες – Ενσωμάτωση της Οδηγίας (ΕΕ) 2024/2831 – Συνταξιοδοτικές ρυθμίσεις – Λοιπές διατάξεις: άρθρο 33 · 5 November 2026 · in Greek · Open ↗
Passage we quote: Article 33, opening words and points (a) and (b)
««Στο άρθρο 38 του ν. 5167/2024 (Α’ 207), περί της παράτασης της αναπροσαρμογής των συντάξιμων αποδοχών, των ασφαλιστέων αποδοχών και των ποσών των ασφαλιστικών κατηγοριών βάσει της ετήσιας μεταβολής του Δείκτη Τιμών Καταναλωτή, επέρχονται οι ακόλουθες τροποποιήσεις: α) στην παρ. 1, οι λέξεις «31η Δεκεμβρίου 2026» αντικαθίστανται από τις λέξεις «31η Δεκεμβρίου 2027», β) στην παρ. 2, οι λέξεις «1η Ιανουαρίου 2027» αντικαθίστανται από τις λέξεις «1η Ιανουαρίου 2028» …»»
"In article 38 of law 5167/2024 (A' 207), on the extension of the adjustment of pensionable earnings, insurable earnings and the amounts of the insurance categories on the basis of the annual change in the Consumer Price Index, the following amendments are made: (a) in para. 1, the words '31 December 2026' are replaced by the words '31 December 2027'; (b) in para. 2, the words '1 January 2027' are replaced by the words '1 January 2028' …" (in our translation)
Passage we quote: Article 33, new article 38 of law 5167/2024, paragraph 3
««3. Το χρονικό διάστημα αναφοράς του πρώτου εδαφίου της περ. α’ της παρ. 4 του άρθρου 8 του ν. 4387/2016, περί αναπροσαρμογής των συντάξιμων αποδοχών, παρατείνεται έως τις 31 Δεκεμβρίου 2027, και η έναρξη του χρονικού διαστήματος αναφοράς του δευτέρου εδαφίου της περ. α’ της παρ. 4 του άρθρου 8 του ίδιου νόμου, μετατίθεται για την 1η Ιανουαρίου 2028.»»
"3. The reference period of the first sentence of point (a) of paragraph 4 of article 8 of law 4387/2016, on the adjustment of pensionable earnings, is extended until 31 December 2027, and the start of the reference period of the second sentence of point (a) of paragraph 4 of article 8 of the same law is moved to 1 January 2028." (in our translation)
- Mononews · Συντάξεις και εισφορές: Στο 2028 μετατίθεται ο δείκτης μισθών – Τρίτη παράταση από το υπουργείο Εργασίας · 6 November 2026 · in Greek · Open ↗ · Archived copy
- Dnews · Νέα παράταση έως το 2027 για τις συντάξιμες και ασφαλιστέες αποδοχές – Για τρίτη φορά μετατίθεται η εφαρμογή του δείκτη μισθών · 6 November 2026 · in Greek · Open ↗ · Archived copy
- Proson · Νέα παράταση για τις συντάξιμες και ασφαλιστέες αποδοχές έως το 2027 · 6 November 2026 · in Greek · Open ↗ · Archived copy
Every figure in the text links to its source. Our own calculations are marked as such. Translations from Greek are ours. Archived copies are snapshots saved on the Internet Archive when we published.
Corrections & updates
No corrections to this article. Spotted an error? Tell us. Corrections policy