As of Jan 1 2024, the government is reactivating the three-yearly work-experience pay-rise mechanism that was frozen in 2012.
Private-sector employees will now receive a 10% increase for every three years of previous work experience up to nine years in total. Thus, over their first nine years in work, employees will receive a 30% pay increase.
For skilled technicians, the increase is set at 5%, meaning their wages will increase by 30% over 18 years of work.
Hellenic Minister of Labor and Social Security Adonis Georgiadis told the Athens Macedonian News Agency that the scheme was mandatory and not voluntary. The legislation has been passed by Parliament and will come into force from Jan 1 2024.
As he pointed out, “Some people will see their salary increase immediately.”
According to ERGANI, the digital platform of the Hellenic Ministry of Labor and Social Affairs, approximately 100,000 people have or will acquire the right to a 10% increase in 2024.
The Minister pointed that this decision to unfreeze the three-year pay rise mechanism was made earlier than expected, since unemployment has fallen to below 10% faster than expected.