More insured people are rushing to retire, but low benefits are forcing many to continue working. At the same time, most self-employed people choose the lowest contribution rates, limiting their costs today but also their future contributory pension.
New figures shed light on the vicious cycle keeping Greece’s pension system trapped in a low-income spiral. The average main pension stands at €817 net, while 412,328 pensioners receive up to €470 net a month. Meanwhile, pension applications exceeded 163,000 in the first nine months of 2026, and 67% of self-employed people choose the lowest insurance category. Recent data from e-EFKA’s information systems reveal how pressures on contributions, pensions and incomes feed into one another.
In detail, the latest figures from the “Ilios” system for September quantify the problem of low pensions, while e-EFKA data show that pressure to retire remains strong, even though leaving work does not necessarily secure an adequate income in old age.
According to “Ilios”, the average main pension stands at €869.17 gross, or €817 net, for a total of 2,542,740 pensioners. More than half — specifically 1,364,068, or 53.6% — receive up to €1,000 gross, equivalent to about €940 net. Even more tellingly, 883,115 pensioners, or 34.7% of the total, receive no more than €700 gross or €658 net. For 412,328 people — almost one in six pensioners across all categories (old age, survivors’ or disability pensions) — monthly payments do not exceed €500 gross or €470 net. The average supplementary pension is just €196.08 gross, while the average dividend is €116.50 gross.
The gap with Europe underscores the challenge facing Greek pensioners. According to Eurostat data for 2023, average annual gross income from old-age pensions in Greece was €12,854, compared with €17,321 in the European Union. The gap is close to 26%. The corresponding monthly figure was €2,177 in Austria, €2,860 in Luxembourg, €1,646 in France and €1,595 in Germany. These figures cover a different period from those in “Ilios”, but nevertheless highlight the structural shortfall in benefits under Greece’s pension system.
Yet pension applications are reaching new highs. They exceeded 163,000 in the first nine months of 2026, compared with 199,450 applications for the whole of 2025. Fears of possible future changes to the retirement age, combined with the option to retire and continue working, are fuelling the trend of claiming pension rights. The choice is often an economic necessity: when a pension is not enough, staying in the labour market becomes a way to supplement income. But it does not automatically translate into a substantially higher pension, as increases are calculated at a rate of 0.77%.
Self-employed people are caught in the same cycle. Of the 1,446,179 insured people paying main-pension contributions, 67% choose the lowest insurance category, according to e-EFKA data for 2026. Among freelancers and the self-employed, the proportion is 61%, while among farmers it soars to 84%. Just 1% of professionals choose the sixth and highest category. The reason is clear: this limits current costs in a market where disposable income often does not allow for higher payments. At the same time, lower contributions mean lower pensionable earnings and, as a rule, a smaller contributory pension.
The dilemma is expected to intensify in 2027, as contributions for the self-employed could rise by 3.5%-4.5%. For the lowest category, the total monthly contribution, currently €250.77, is estimated to reach between €259.55 and €262.05. The more expensive insurance becomes, the stronger the incentive to remain in the lowest category.
For 2027, however, the draft budget forecasts pension increases of around 2.8%, while corrective measures in the final version have not been ruled out, as inflation could ultimately come in higher than initially forecast. The permanent €400 allowance is also expected to be paid at the end of next month to all pensioners aged over 65.