National pension

Regardless of the contributions paid, insured persons receive a national pension of €384. Thanks to the national pension, even low income persons who have contributed little for a short period of time are entitled to a basic pension.

The national pension is one part of the main pension and constitutes the redistributive component of our social security system. It is financed from the state budget, i.e. from taxes and not from the contributions of insured persons. Therefore, redistribution within our social security system is achieved through taxation, while the contributions we pay are not redistributive.

In order for a person to be entitled to a full national pension they must have 20 years of employment and insurance, 40 years of residence in Greece and be of retirement age.