A comprehensive reform in 2010, discussed in detail in the 2011 Economic Survey of Greece (OECD, 2011b), strengthened the long-term viability of the system by reducing its generosity (including through reduced pensions, increased retirement age, and extended contribution periods to qualify for a pension). Certain elements of the reform, however, such as the increase and equalisation of the retirement ages, enhance equity (Box 2.4). In particular, a new two-tier structure is to be introduced in 2015 that distinguishes between a basic pension (amounting to EUR 360 per month in 2010 prices) and a contribution-related proportional pension (calculated as lifetime earnings multiplied by annual accrual rates multiplied by the number of insurance years).