BUSINESS

Temporary auxiliary pension plan prepared by Labor Ministry

ROULA SALOUROU

TAGS: Finance

The Labor Ministry is processing a plan for retirees to secure the payment of a temporary auxiliary pension immediately after their application for a main pension has been approved, so as to reduce waiting times and ease the hassle that thousands have to go through upon retirement.

Deputy Minister Notis Mitarakis told Kathimerini that the ministry’s agencies are processing the proposal for inclusion in the bill currently being drafted. He explained that the temporary auxiliary pension will be based on the amount that the definitive pension will likely come to.

Meanwhile, there is also the proposal for the advance payment of 80 percent of the retirement lump sum, which was processed a few months ago by the auxiliary pension fund (ETEAEP).

According to data recently presented by the ministry in Parliament, there are over 310,000 pending applications for pensions from ETEAEP and the Single Social Security Entity (EFKA) – based on data applying on August 31, 2019 – while the total number of pending cases on pension issues comes to more than 1 million, according to Minister Yiannis Vroutsis.
 

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