By Kostas Katikos
An increase in record levels for the last 7 years has been recorded in retirements in the first two months of 2026, as new applications were submitted to EPKA 36,999.
The applications of the first two months of 2026, as reflected in the latest report (2nd/2026) of the EPKA ATLAS system, are increased by 14.7% (4,767 more) than those of the first two months of 2025 and by 35.15% (9,624 more) of the applications of the first two months of 2019.
The first picture for 2026 shows that this year may be the biggest wave of retirements in recent years, i.e. to exceed at year level the 212.151 applications of 2021, which is the exit record from 2019 onwards.
2025 was the third year in series with a record of retirements in recent years, with 199,450 applications, and the second largest was 2022 to 211,133 applications. And all this while sustainability studies on insurance have two red lines both have been violated.
The first red line is the insured-retired ratio, has fallen under 2 to 1, while long-term viability of the system should be 4 to 1.
The second red line is the number of new pensioners who can afford to pay the insurance every year. Analogue studies show that annually new retirements should move around 70,000 to 90,000 at the most, but this line has also been broken and inevitably comes brake on departures in the following years.
The large exit of the pensioners is explained by 5 main reasons, which are as follows:
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The simultaneous maturity of pension rights persons born after the war, the known generation of "baby boomers", which came from the explosion of births in the 1950s and early 1960s. Those born during this period entered the labour market simultaneously and leave the same mass for the pension.
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The fact that more and more pensioners now choose continue to work after retirement, to increase their income, without reducing their pension, instead they earn an increase in their pension from their work stamps.
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The upcoming changes in age limits, linked to the increase in life expectancy over 65 years. Officially, the leadership of the Ministry of Labour and Social Security has stated that no changes will be made in 2027, as there is no substantial increase in life expectancy, but there is concern among the insured and those intending to retire now.
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Any change in the terms of acquisition and calculation in the syntax of fictitious years. The debate has opened, but there will be no speeches at the moment. One of the changes discussed is that fictitious ones will not count in pension as in real years, but will be calculated with a reduced rate of replacement.
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Ensuring supplementary benefits such as one-off In the public sector, which is declining, but also in the supplementary pensions which will not increase in the foreseeable future, each year the new method of calculating them is pushing them to lower amounts.
At the same time, the outstanding pensions, i.e. those which are late for issuance beyond the quarter, have declined to 13.909 for February 2026, which is confirmed by the reduction in the time of allocations, which has been limited to 2 to 3 months, in addition to complex applications with successive or parallel periods of insurance that are delayed beyond the quarter.
The amounts of new pensions for those leaving in 2026 range from EUR 1,055 for low-paid persons with 36-37 years to EUR 2,200 for high-paid persons with 40 years.
For example:
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Ensured by the private sector with a pension of EUR 3.510 and 40 years of insurance will receive a pension of EUR 2,202.
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Insurance of the Public Category IP, with a pensionable salary of EUR 2,550 and 40 years of insurance, will receive a pension of EUR 1,722.
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A pensioner with a pension of EUR 1,637 and 36 years of insurance will receive a pension of EUR 1,099.
Key to larger syntax
The key to getting a greater pension for insured persons is to choose the exit with more years, because that will get more "prim" than the replacement rates.
The biggest bonus is given to those who leave 36 to 40 years of insuranceFor example:
– From 30 to 31 years the replacement rate increases by 1.81% and from 26.54% rises to 28.35%.
– From 32 to 33 years the rate rises by 1.98% (from 30.33% to 32.31%).
– From 33 to 34 years and from 35 to 36 years the replacement rate increases by 2.5%. 35 years is 37.31% and 36 years is 39.81%.
– From 36 years to 40 years, replacement rates are increased annually by 2.55%, resulting in a replacement of 39.81% for 36 years to 50.01% for 40 years.
After 40 years of insurance, replacement rates continue to increase, but at very limited speed. From 2.55% increasing each year the rates of replacement from 36 to 40 years of insurance, suddenly the rate of increase falls to 0.5%.
