July 22, 2024

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What changes in supplementary pensions – the basis of the right and the time of its issuance

What changes in supplementary pensions – the basis of the right and the time of its issuance

In implementing the expedited procedure for granting supplementary pensions and one-time benefits, the EFKA is expected to throw its weight behind it following the passage of the micro-insurance bill which includes a provision that simplifies the procedure for granting supplementary pensions. The new procedure will be applied retrospectively and will include pending applications for supplementary pensions.

Supplementary pensions

The large accumulation of supplementary pensions and lump sums is reflected in the budget figures. At the end of the second quarter of the year, outstanding supplemental pension claims remained at a very high level of 103,875 claims, while overdue claims rose to 83,635 from 79,890 in the previous quarter.

In the area of ​​one-time benefits, it is estimated that there are 3,700 applications pending in the public sector

This reality also explains the intention of the Minister of Labor, Mr. Aad. Georgiadis to introduce simplified procedures for providing supplementary pensions. The draft law in question is expected to be submitted to the consultation process until November 10 and voted on in early December.

Simplify processes

According to the data announced by the Ministry of Labor, the text on supplementary pensions simplifies the procedures and conditions for proving the right to a supplementary pension for all funds, as it is required to complete 15 years, whether in an organization or with successive insurance, which currently applies only to the previous IKA-ETAM, and not to the conditions. Provided by each box.

Fast-track procedures for granting supplementary pensions by EFKA

Establish a supplementary pension

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In this way, the conditions for establishing the additional pension for the public and private sectors became unified after the completion of 15 years of additional insurance (4,500 marks) either in one institution or consecutively. Approximately 12,000 to 13,000 publicly insured persons and the wider public sector will be the first to benefit from this provision to accelerate the issuance of supplementary pensions in order to reduce backlogs that remain at high levels.

Within three months

The application of the unified rules for granting supplementary pensions allows them to be subject to the fast-track procedure, that is, they will be issued within a period of three months from the date of granting the basic pension or within six months from the date of disbursement of the basic pension. – Request for supplementary pension disbursement if it is submitted after submitting the request for disbursement of the basic pension.

This provision will be applied retrospectively to pending applications as well, and is expected to significantly reduce the processing time and backlog of supplementary pensions.

Finally, in the area of ​​one-time subsidies, it is estimated that pending applications in the public sector amount to 3,700 applications, while in the private sector they reach 7,000-8,000 applications.