In Greece, a new financial package aimed at providing back payments is being rolled out for about 37,000 pensioners as the EFKA (Unified Social Security Fund) begins the gradual process of making payments. These payments are the second round of disbursements related to back payment amounts, particularly targeted at retired military personnel and others who had significant recalculations in their pensions.

The package specifically encompasses back payments arising from pending pension recalculations that have produced changes and corrections in the originally computed pension amounts. While the pensions of eligible beneficiaries were recalculated, subsequent modifications resulted in increased amounts that were paid without including the owed back payments. These back payments are intended to cover the period from January 1, 2019, through to the month when the recalculations with additional raises were finalized, highlighting a significant financial commitment by the Greek government to rectify past discrepancies for retirees.

It is estimated that the back payments for those affected could amount to several thousand euros, depending on individual cases. This situation is particularly pertinent for pensioners whose initial recalculations were flawed due to incorrect data concerning their pension decision timelines and insurance periods. The ongoing adjustments not only represent a financial influx for retirees but also reflect the government's efforts to address longstanding issues within the Greek pension system.