The State pays most lump sums (over 30,000 each year), but not the highest.
The average civil servant lump sum was €24,417 for the 2023 payments and fell to €22,390 for the ongoing payments in 2024.
The lump sum follows a downward trend for all Funds. With changes to the way pensioners are calculated from 2014 onwards, part of the lump sum (for insurance years from 2014 onwards) has been converted into an interest-free contribution refund.
There are, however, Welfare bodies that pay very high lump sums compared to the other Funds, however these amounts are also smaller than in the past and especially before the new calculation method was implemented.
The largest amounts are paid by private sector Funds and DEKO Funds.
In fact, in the payments of the first two months of 2024, according to the data published today by the “Insurance and Pensions” insert, the Dockers’ Welfare sector paid a pensioner a one-off payment of 124,278 euros (pp. 4-5). It is the highest amount compared to other Funds and this is due to the fact that its insured also pay higher contributions. The second highest one-off payment comes from the Thessaloniki Port Authority Fund, which in 2023 paid an average one-off payment of 72,208 euros, while in the payments of the first two months of 2024 it is around 47,000 euros.
In the Funds of DEKOs and banks that operate within the EFKA, the lump sums range between 30,000 euros and 58,000 euros.
According to the tables published by the “Insurance and Pensions” insert:
*The average lump sum paid by 33 Funds in the first two months of 2024 to their 6,064 pensioners is 18,366 euros, while for the whole of 2023 the average lump sum paid to 46,251 pensioners by 36 Funds is 20,527 euros.
*The average lump sum for the State in the payments of 1,787 pensioners in the first half of 2024 is 22,390 euros, while the average lump sum paid in 2023 to a total of 30,821 pensioners of the State was 24,417 euros.
The comparison of the two periods (2023 and the first two months of 2024) confirms the rule that applies from 2014 onwards, which is that each year the lump sum for the same years of insurance will decrease, due to the change in the way it is calculated.
The change in the calculation mainly affects civil servants, especially the younger ones, because the good part of the lump sum is the one that corresponds to the contributions they paid until 2013. However, the younger civil servants, who will have half or more years of their service after 2014, they will get less than the good part of the lump sum for the years up to 2013 and an interest-free contribution refund for most years after 2014.
The way for pensioners to get a larger lump sum or the same as they would have if the calculation method had not changed is to extend their retirement. With this option they will pay, for example, 40 years of contributions to get the lump sum that the oldest had at 32 or 35 years.
How long after retirement does the lump sum come out of the State?
With the automated process, the lump sum is paid within two months after the final award of the pension in 60% of applications. With the submission of the resignation, the employee’s change of service report is automatically issued, in which their entire insurance life is recorded electronically from the day they were hired in the State until they left their last service. About 1,500 of the lump sums that come out every month are issued through e-DAYK and the aid is paid within a very short time after the final pension. However, there are delays when DAYK data has errors and needs to be corrected. Such errors are found in the pensions and lump sums of municipalities and hospitals.
The new amounts for all categories of civil servants
The new lump sums for the State, according to the revealing table published by the “Insurance and Pensions” insert, based on the payments of the first two months of 2024, are as follows:
*Retired teachers receive an average lump sum of 23,860 euros (25,797 euros average lump sum in 2023).
*Pensioners from public hospitals (nursing, administrative staff) receive an average lump sum of 20,416 euros (24,413 euros average lump sum in 2023).
*Retired clergy, who by law can now receive the lump sum from the age of 67 while continuing their work, are paid an average of 15,033 euros in a lump sum (12,501 euros in a lump sum in 2023).
*Pensioners on special payrolls receive an average lump sum of 45,041 euros (39,323 euros average lump sum in 2023).
*Retired employees of the IKA receive an average lump sum of 27,169 euros (26,956 euros average lump sum in 2023).
What applies to those leaving after 2014
The rule introduced by Law 4387/2016 is that the lump sum for the same years of insurance is reduced every year for those who retire from 1/1/2014 onwards.
In order for the insured to even out the losses, they will have to stay more years.
For example:
- An employee who retired from the State in 2013 with 37 years and a salary of 1,600 euros received a lump sum of 35,520 euros, while an employee who retired in 2022 with 37 years and approximately the same salary received a lump sum of 27,372 euros.
- An employee who will retire in 2024 from the State with 37 years and an average salary of 1,600 euros will receive a lump sum of 26,500 euros, while an employee who will retire in 2029, having then been 37 years old and with approximately the same salary, will receive a lump sum of 21,740 euros.
The reduction caused by the Katrougalou law with the one-off interest-free refund of contributions is almost 10,000 euros in a 10-year period (2023 vs. 2013) and as the years increase with interest-free refunds from 2014 onwards the losses will grow.
How will the lump sum of the State be shaped in the coming years
With the current system established by Law 4387/2016 (Katrougalou Law), the lump sum in all Funds (except military) is calculated in two ways as follows:
* The first part of the lump sum corresponds to the insurance years up to 2013 and for this period the amount is calculated with 60% of the average salary of the insured for the 5 years 2009-2013.
*The second part of the lump sum corresponds to the years of insurance from 2014 until the retirement of the insured and is equivalent to the return of the contributions paid after 2024.
The double calculation system favors the older insured who are closer to the “good” 5 years of the lump sum (2009-2013).
For example:
- A civil servant with 38 years, who retired in 2020 and had an average salary of 1,800 euros in the 5 years 2009-2013 and 2,000 euros from 2014 to 2020, received a lump sum of 40,200 euros (33,480 euros for the 5 years 2009-2013 and 6,720 euros for the 7 years 2014-2020).
- A civil servant who will retire with 38 years in 2024 will get a lump sum of around 35,160 euros, because he will have fewer years until 2013 and a lower average salary between 2009-2013, so the “good part” of the lump sum will be smaller. Compared to the insured who left in 2020, the 2024 pensioner has lost around 5,000 euros.
- A civil servant who will retire with 38 years in 2030 will receive a lump sum of around 28,760 euros, because he will have fewer years until 2013 and a lower average salary between 2009-2013, so for this period he will receive a smaller lump sum. Compared to the insured who left in 2020, the 2030 pensioner will have lost around 11,500 euros and compared to the 2024 pensioner will get 6,400 euros less.
The lump sum of 2023 from the State
| Sectors of Welfare | Beneficiaries | Average amount |
| EDUCATIONAL | 14.825 | 25.797 € |
| NURSING INSTITUTIONS | 4.817 | 24.413 € |
| CIVIL OFFICERS | 4.933 | 23.338 € |
| TADKY | 3.060 | 21.916 € |
| NPDD | 1.010 | 14.561 € |
| It was OK | 299 | 12.501 € |
| SECURITY FORCES | 767 | 21.329 € |
| SPECIAL PAYROLL | 554 | 39.323 € |
| Ika | 455 | 26.956 € |
| v. TPDY (indefinite-term employees) | 101 | 14.707 € |
The one-off news for the first two months of 2024 from the State
| Sectors of Welfare | Beneficiaries | Average amount |
| EDUCATIONAL | 1.424 | 23.860 € |
| NURSING INSTITUTIONS | 743 | 23.249 € |
| CIVIL OFFICERS | 650 | 20.416 € |
| TADKY | 424 | 21.414 € |
| NPDD (Organizations) | 114 | 14.721 € |
| TPOEKE (Clerical) | 48 | 15.033 € |
| SECURITY FORCES | 188 | 5.034 € |
| SPECIAL PAYROLL | 139 | 45.041 € |
| Ika | 64 | 27.169 € |
Indicative amounts for the one-off payment to the State in the coming years
| Appointment | Retirement | Years up to 2013 | Years after 2013 | |
| One time average | 1982 | 2020 | 31 | 7 |
| 40.200 € | 1984 | 2022 | 29 | 9 |
| 37.598 € | 1986 | 2024 | 27 | 11 |
| 35.164 € | 1988 | 2026 | 25 | 13 |
| 32.886 € | 1990 | 2028 | 23 | 15 |
| 30.754 € | 1992 | 2030 | 21 | 17 |
| 28.760 € | 1995 | 2033 | 18 | 20 |
| 26.006 € | 1997 | 2035 | 16 | 22 |
| 24.317 € | 1999 | 2037 | 14 | 24 |
| 22.737 € | 2002 | 2040 | 11 | 27 |
20.555 €
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