BUSINESS

Certain bank staff can collect pension before 67

TAGS: Banking

A Council of State decision gives certain bank employees the right to retire with a full pension without having reached the official retirement age (67), on the sole condition that they have fulfilled the necessary number of years of service.

According to the bank employees union (OTOE), the decision of the country’s highest administrative court cancels a ministerial decision and opens the exit door for employees of Alpha Bank, Attica Bank and the former Emporiki Bank, provided they have completed the number of years of work required by law.

This concerns employees who secured the right for a pre-retirement benefit (received after they submit their retirement paperwork) by May 12, 2016, when the law introduced by then labor minister Giorgos Katrougalos came into force.

OTOE argues that the CoS accepted the employees’ arguments according to which the three banks’ auxiliary social security union charters do not provide for a minimum retirement age.

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