Greece's government will cut pensions, extend a property tax hike and put tens of thousands of public workers on notice as part of a deal to continue receiving aid funding from its international lenders, government officials said on Wednesday.

The cabinet agreed to cut pensions amounting to more than 1,200 euros ($1,642.913) a month by 20 percent and further reduce payments for former state workers who had retired before the age of 55, the senior government officials said on condition of anonymity.

We tried to find the most just measures possible, said one of the officials who attended the cabinet meeting.

The government will also extend a new real estate tax hike originally slated to expire next year until at least 2014.

It will also put 30,000 civil servants in labor reserve this year, the official said, which means it will reduce their pay to 60 percent of their salaries and give them 12 months to find new work in the state sector or lose their jobs.

(Reporting by George Georgiopoulis Michael Winfrey)