Thus, the main and auxiliary pensions for the month of May 2024 will be paid as follows:
- On April 25, Thursday, the main pensions from the former self-employed funds OAEE, OGA, ETAA, the main pensions awarded from the establishment of the EFKA and after, i.e. from 1/1/2017 and all the auxiliary pensions of the private sector will be paid .
- On April 29, Monday, the main pensions of the former Employee Funds {IKA-ETAM, BANKS, OTE, PPC, OTHER ASSETS (TSEAPGSO, TSP-ISAP), NAT, ETAT, ETAP-MME}, and the main and auxiliary pensions will be paid of the PUBLIC.
Pensions: On the table is the extension of the good 5 years for the calculation of the lump sum
A one-off change in the calculation base will be needed so that it does not end up becoming a… good allowance in the future.
The basis of calculation that currently gives the main and largest amount is the salaries of the five years 2009-2013. From 2014 onwards, the insured get back the contributions they paid. Those who retired after 2014 and until 2020, got the main part of the lump sum increase, because it was closer to the good 5 years 2009-2013.
However, as the insured move away from the 5-year period 2009-2013, the lump sum will decrease, because the good salary years will be less for the calculation of the first part of the lump sum, while the years after 2014, which will take back the contributions, will increase that they paid.
If the double calculation system remains as it is, then younger insured people will lose even the contributions they paid.
The problem created by the double calculation is seen mainly in the State, where insured persons with the same salary and the same years will receive a smaller lump sum as they move away from the 5-year period 2009-2013.
EFKA officials are already discussing the proposal to change the method of calculating the lump sum, so that the 5-year period 2009-2013, which is currently used to calculate the first and “best” part of the lump sum, is extended by one year every year. For example, those who leave in 2024 should get the first part of the lump sum with the salaries of the 5 years 2010-2014, those who leave in 2025 should have the first part of the lump sum for the 5 years 2011-2015, those who leave in 2028 should have the main part of the one-off with the 5-year period 2014-2018, etc.
What is certain is that if no changes are made to the calculation base of the lump sum, then in 7 years the reduction of the lump sum will be large, to the point that future pensioners of the State will receive less than the contributions they paid.
The dual system favors older insured persons, whose retirement age is close to the “good” 5-year lump sum (2009-2013), while younger insured persons, as they move away from this 5-year period, will mathematically receive a much smaller lump sum.
According to the table of indicative lump sum amounts published by the “Insurance and Pensions” insert:
- A civil servant who retired in 2017 with 35 years and an average salary of 1,560 euros in the 5 years 2009-2013 and 1,650 euros from 2014 to 2018, received a lump sum of 32,024 euros. Of this amount, 28,080 euros is the good part of the lump sum for the 5 years 2009-2013 and 3,958 euros is the refund of contributions for the 5 years 2014-2017. The pensioner in question had a small reduction, because he had most of the years (31 out of 35 years) until 2013 and only for 4 did he get his contributions back.
- A civil servant who will retire with 35 years in 2025 will have 23 years of insurance until 2013 for the “good” part of the lump sum and 12 years of refund of contributions after 2014, with the final lump sum amounting to 25,069 euros. Compared to the insured who left in 2017, the 2025 pensioner will receive a smaller lump sum of 8,000 euros.
- A civil servant who will retire with 35 years in 2035 will have 13 years of insurance until 2013 for the “good” part of the lump sum and 22 years of returning contributions after 2014, with the final lump sum amounting to 17,625 euros. Compared to the insured who left in 2017, the 2035 pensioner will lose 14,400 euros, while he will get 12,000 euros less than the 2025 pensioner.
Will civil servants get a decent lump sum?
Most of the old state pensioners have retired with a decent lump sum of 60% of their 5 year 2009-2013 earnings. But those who are going to retire in the coming years will get less. On the one hand, the years they will have until 2013, which is the “good” part of the lump sum, will decrease, and on the other hand, the years they will have after 2014 will increase, when instead of a lump sum they will get back their contributions and these are interest-free. For those insured by the State who were appointed after 1989-1990, the course of the lump sum is prescribed downwards. A brake can be applied if the 5-year period 2009-2013 is extended, so that their salary maturity is also calculated in the lump sum.
One-time from the State with 35 years (PE category)
| Appointment | Retirement | Years until 2013 | Years after 2013 | One time average |
| 1982 | 2017 | 31 | 4 | 33.024 |
| 1985 | 2020 | 28 | 7 | 29.872 |
| 1987 | 2022 | 26 | 9 | 27.851 |
| 1989 | 2024 | 24 | 11 | 25.964 |
| 1990 | 2025 | 23 | 12 | 25.069 |
| 1991 | 2026 | 22 | 13 | 24.203 |
| 1993 | 2028 | 20 | 15 | 22.560 |
| 1995 | 2030 | 18 | 17 | 21.026 |
| 1997 | 2032 | 16 | 19 | 19.595 |
| 2000 | 2035 | 13 | 22 | 17.625 |
| 2002 | 2037 | 11 | 24 | 16.422 |
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