Greece, record number of retirements - Around 200,000 new applications by October. The labor market is “shaking”
A record number of retirements is expected this year in Greece, as more than 190,000 new applications were submitted to the Joint Social Insurance Institution (EFKA) by last week. This figure is almost as many as in all of 2024 and 15,000 to 20,000 more than in 2019 and 2020 respectively.
Even in 2021, the year in which the most applications were submitted to date (212,151), at the end of October their number was 169,433. While in 2022, 179,849 applications were submitted during the January-October period, with the year ending with a total of 211,133 retirees.
It is estimated that during November and December 2025, an average of about 18,000 applications will be submitted per month, closing the year with almost 220,000 applications.
Experts are monitoring the process, knowing that the positive direction of the country's social security system is not in jeopardy. This phenomenon is considered expected, as we are talking about the post-war generation, otherwise known as "baby boomers", who are now reaching retirement age.
The surge in applications is expected to have a significant impact on the labor market, creating gaps in several key sectors such as education, health and public administration. Authorities are considering measures to support the recruitment of young people and ensure the transfer of knowledge from the post-war generation to younger workers.
According to specialists, the trend is expected to continue for several years, reflecting demographic changes and the increase in the average age of the population.
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