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[Greek] Parliament Ratifies Pension Agreement with Australia

Athens- Greek Parliament ratified a Social Security Agreement between Greece and Australia. The long-awaited agreement is of direct interest to Greek Australians and concerns old age pension rights. Greeks returning to Greece after the agreement comes into effect will be eligible for old age pension calculated on the number of years of residence in Australia over a 25-year denominator.

The denominator for those returning to Greece before the agreement becomes effective is 44 years.

Government spokesman Evangelos Antonaros said the agreement was the result of lengthy and painstaking negotiations and had been a standing demand of Greeks living in Australia, who for decades had sought to secure their pension rights so that they could return to Greece without losing the fruits of years of labour. "It is now certain that these rights are secured to the maximum degree possible," he added, stressing that the agreement first signed by Prime Minister Costas Karamanlis during a visit to Australia in May 2007. Mr. Antonaros also said that up to now, those returning had been unable to claim their full pension rights but that this agreement had finally settled this problem. Further details on the above are also available at www.facsia.gov.au/internet/facsinternet.nsf/international/agreements-new.htm

source: http://www.greekinsight.com

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