Twelfth austerity package (Greece)

Twelfth austerity package (A) - October 2015 measures
Hellenic Republic
Measures for the implementation of fiscal targets and structural reforms (Law 4337/2015)
Territorial extent	Greece
Enacted by	Hellenic Parliament
Date passed	16 October 2015 (For: 154; Against: 140)
Legislative history
Bill published on	12 October 2015
Introduced by	Government of Greece
First reading	12 October 2015
Second reading	13 October 2015
Third reading	16 October 2015
Committee report	Joint Report of the Committees of Finances, Social Affairs and Production and Trade
Amendments
Amendement 4/4 Tax investigation statute of limitations extension
Status: In force

Twelfth austerity package (B) - November 2015 measures
Hellenic Republic
Pension regulations, incorporation into Greek law of Directive 2012/27/EE of the European Parliament and of the Council of 25 October 2012, "For energy efficiency, the amending of Directives 2009/125/EC and 2010/30/EU and the repealing of Directives 2004/8/EC and 2006/32/EC, as amended by Directive 2013/12/EU of the Council of 13 May 2013 "For the adaption of Directive 2012/27/EU of the European Parliament and the Council for energy efficiency, due to the accession of the Republic of Croatia" and other provisions.
Territorial extent	Greece
Enacted by	Hellenic Parliament
Legislative history
Bill published on	29 October 2015
Introduced by	Government of Greece
First reading	29 October 2015
Second reading	30 October 2015
Third reading	Pending

The twelfth austerity package was voted by the Greek Parliament as part of the agreement between the Tsipras Government and the 'quartet' of creditors (the IMF, ECB, ESM and EU) for a third loan to Greece. The first round of package passed on 16 October 2015 by 154 votes for and 144 against.^[1]

Measures

The measures passed by this bill were the following:^[2]

• Extent of force of the 3865/2010 Law will now include the public sector.
• Pensions will be calculated as the sum of the basic and contributory pensions.
• The minimum age for pensions is universally raised to 67 retroactively from 1 July 2015.
• Public sector pensioners receiving reduced pension will suffer from a further 10% decrease in their pensions until they reach the universal minimum pension age. Disability pensions are excluded from this provision.
• The status of armed forces personnel with regards to pensions reverts to the 3865/2010 Law regime. New pensioners of that category will have a right to a pension the year they become 61 years old, or after 40 years of service.
• A special fund (ΑΚΑΓΕ) which partly pays for auxiliary pensions is abolished.
• The provisions of the 4331/2015 Law are nullified.
• Non-payment of the OAEE and ETAA social security funds is reinstated as a penal offense.

See also

• First austerity package (Greece)
• Second austerity package (Greece)
• Third austerity package (Greece)
• Fourth austerity package (Greece)
• Fifth austerity package (Greece)
• Sixth austerity package (Greece)
• Seventh austerity package (Greece)
• Eighth austerity package (Greece)
• Ninth austerity package (Greece)
• Tenth austerity package (Greece)
• Eleventh austerity package (Greece)
• Thirteenth austerity package (Greece)

References

1. "Greece's parliament approves new round of austerity measures". dw.com. Retrieved 13 May 2016.
2. "What the new social security bill contains". Kathimerini(in Greek). 12 Οctober 2015. Check date values in: |date= (help)