Retirees brace for a windfall

Retirees brace for a windfall

About one in every two retirees still awaiting the issue of their pension will receive a monthly deposit of 360 or 368 euros as well as months’ worth of retroactive dues – probably in the last week of May.

This concerns 36,088 workers insured with the Single Social Security Entity (EFKA) who submitted an application on the entity’s special platform by March 31.

However, the platform has been kept open, as it appears other eligible retirees feared that receiving an advance payment toward their pension would create further delays in the processing of their main application. That fear had put off a significant share of retirees – particularly those who retired recently – from applying for an advance payment.

Officials at the Labor and Social Affairs Ministry and at EFKA stress that the two procedures operate in parallel and applying for an advance payment will not generate further delays.

Spending more than a year without an income has led those insured with the three major former funds (OGA, IKA and OAEE) to file for a deposit too, while those who have waited for less than a year have clearly been more reluctant to apply to date.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.