Retrospectively: These are the 10 SOS – Who and how much are paid per fund

From 6.000 until 11.250 euros will take retroactively 800.000 retirees queuing up to pay this week.

From Friday when the retroactive payments started (along with November pensions) were given to IKA retirees, banks and OTE with AMKA ending in 1, 3, 5, 7, 9.

Today retirees are paid from the same funds as AMKA balance, which ends in 0, 2, 4, 6, 8.

The beneficiaries who they were the first to get the retrospectives corresponding to pension cuts deemed unconstitutional for the 11 months of June 2015 – May 2016 amount to 310.000.

Others follow two payments for tomorrow 27 and Thursday 29 October that will include approx 800.000 retirees from the other funds.

Tomorrow, Tuesday 27 October, pensioners from OAEE will be paid retroactively together with November pensions, EBRD, and OGA and on Thursday 29 October will be paid for public pensioners, NAT, ETAP-MME, ETAT and PPC.

The 10 SOS

The following follows 10ratio of retrospectives and the answers with examples, as published in the newspaper "Eleftheros Typos":

  1. What reductions, with what amounts and to whom they are returned.

The retroactive payments that correspond to the reductions of main pensions that the pensioners had in the 11 months of June 2015-May 2016,

a) for the cut of the Law 4051 with percentage 12% over the 1.300 euro,

b) for the cuts of the Law 4093 with percentages 5% from 1.000 as 1.500 main pension, or sum of pensions, 10% from 1.500 as 2.000 euro, 15% from 2.000 as 3.000 euro, and 20% for pensions above 3.000 euro,

c) to reduce 7% imposed on NAT main pensions.

Only the reduction of the Law is returned to the state pensioners 4093 because the Court of Auditors considered the reduction of the Law constitutional 4051 and canceled the retrospectives. Private sector pensioners are reimbursed for both reductions canceled by the Council of State (ΣτΕ) due to unconstitutionality.

All categories of retirees are entitled to retroactive benefits from the disputed 11 months, in which they are included:

  • Retirees due to old age, widowhood, and disability, who received a final main pension in the period June 2015-May 2016 and had the reductions mentioned above.
  • Retirees with two or more main pensions.
  • The heirs of retirees.

The amounts returned vary from Fund to Fund and depending on the pension.

For example, if we have two retirees, one of whom receives a mixed main pension 1.400 euros and has an auxiliary 200 euros while the other has only a main pension in 1.400 euro, then we observe making calculations that although the main pension is the same in both (1.400 euro) retrospectives differ. The retiree who has an auxiliary will get more, not because the government returns retroactively to the ancillary, but because the auxiliary raises the cut of the Law 4093 in the main pension and therefore the retiree has a higher return than that cut. Doing the deeds we find that the retiree with principal 1.400 euros and ancillary 300 euros will take retroactively 1.562 euro, while the retiree who has only a main pension 1.400 euros will take retroactively 820 euro. The reason is that the retiree without the supplement has a reduction 5% by the law 4093 because it is below 1.500 euro, while the retiree with the auxiliary exceeds 1.500 euros and has a reduction 10%.

2. Which payments go until December.

As clarified by the Ministry of Labor, with a statement by the competent minister Giannis Vroutsis, retirees with temporary pensions received, with the final decision, retroactive pension amounts corresponding to all or part of the period June 2015-May 2016, will receive the corresponding retroactive deductions from the unconstitutional reductions in the immediate future and until the end of the year. So, for example, a retiree who had the cuts for 6 months in the period June 2015-May 2016 will take retroactively 6 months. A retiree who has been receiving a pension since April 2016 will only take retroactively for a month and a half, that is, for April 2016 and in the middle of May 2016.

  1. Why many retirees have seen or will see in their accounts minimal returns as retroactive even of 0,50 minutes.

In retroactive payments there are also some beneficiaries with very small amounts, below 10 euro, even half a euro. They will receive them normally, as reduction refunds, and the reason that the amount they will receive will be small has to do with the fact that in such cases the pensions were included for a few euros (marginally) to the cutter and therefore the returns that pensioners are entitled to are minimal.

  1. What do the double retirees of the State lose from the retroactive ones and what do they gain.

For state pensioners who also had a second main pension from another Fund (e.g. Ika, ΤΣΜΕΔΕ) the retroactive payments that will be returned to them will be only from the reduction of the Law 4093, even if the second non-public pension had the reduction of the Law 4051.

For example, if a pensioner receives his own pension from the State 700 euros and from IKA 900 euro, that is, a sum 1.600 euro, has a reduction 22 euros by law 4051 in the pension of IKA, but will not take retroactively because the reduction of the Law 4051 is not refundable to State pensioners, either have one or two or more main pensions. Therefore they will be given retroactively only by the reduction of the Law 4093 in both pensions.

For retirees who come from Private Sector Funds and have two main pensions (e.g. old age IKA and widow from State or OAEE) the retroactive returns that are also from the reduction of the Law 4051 and by the reduction of the Law 4093.

Retroactive depending on the pension for IKA retirees, DEKO, banks, OAEE, EBRD and NAT:

Pension today before taxReductions that are returned (per month)Retrospectively 11 months, net amounts
From N.. 4051From N.. 4093Total

The retroactive main pensions for NAT retirees:

Pension before tax todayReductions that are returned (per month)Retrospectively 11 months, net amounts
Reduction 7%Reduction N. 4093Total

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