Greece faces rising retirement ages as population ages and birth rates fall

Greece, like much of Europe, is grappling with the profound impact of demographic shifts on its pension system. Rising life expectancy and an aging population are forcing a critical re-evaluation of retirement ages and benefits, with experts warning that current 35-year-olds may face retirement at 69 or even 70.

Professor of Labor Law Alexis Mitropoulos highlights that countries like Germany and Denmark are already implementing measures to raise retirement ages. In Denmark, a relevant law has been passed, while Germany is considering similar legislation. Governments confronting demographic challenges are compelled to reform their social security systems, either by increasing the age of retirement or by reducing pension expenditures. Mitropoulos notes that insured individuals will bear the consequences of these age limit increases, alongside potential cuts in pension spending.

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The insured will be called upon to bear the consequences of the increase in age limits.

Greece, specifically, is among the top ten countries globally with laws linking retirement age to life expectancy. The current law mandates a review every three years to adjust retirement ages for both men and women based on the general population's life expectancy. This review process is set to begin in 2027, with subsequent checkpoints in 2030 and 2033. ENYPEK anticipates that increasing retirement ages will be among the first legislative actions of the new government following the upcoming elections.

Adding to the urgency, Greece's birth rate is projected to reach a historic low of approximately 65,000 births in 2026, the lowest in a century. This alarming trend, confirmed by the Hellenic Statistical Authority for the first quarter of 2026, has prompted international organizations like the OECD, IMF, and World Bank to call for a redesign of social security systems. These reforms are expected to disproportionately affect women, who traditionally retired earlier due to family and professional responsibilities. Mitropoulos argues that expecting women to work until ages 67 or 70 while simultaneously encouraging childbirth creates significant social and economic pressures.

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The system cannot demand that women work until 67 or 70 years old, while at the same time encouraging them to have children, as this creates serious social and economic pressures.