Freezing of Salary Raise in Private Sector Ends

As of Jan 1 2024, the government is reactivating the three-year work experience pay rise mechanism that was frozen in 2012.

Employees on the payroll will now receive a 10% increase for every three years of previous work experience up to nine years. Over nine years of work experience, the increase rate will be 30%.

For skilled technicians on the payroll, the increase will be 5% and will reach up to 30% increase for more than 18 years of work experience.

Minister of Labor and Social Security, Adonis Georgiadis, told Athens Macedonian News Agency that the implementation of this scheme is not a voluntary act but a mandatory one. It is an approved law of the state and is valid from January 1, 2024.

As he pointed out, “some will immediately see an increase in their salary.

According to “ERGANI”, approximately 100,000 people have established or will establish the right of an 10% increase in 2024. As a result of the three-year period, it will be extended throughout the private sector and will reach approximately one million people.

The Minister pointed that this decision -to unfreeze the three-year pay rise- comes earlier than expected due the to the faster de-escalation of unemployment below the 10% barrier.

Source: tovima.com