Extra increases in DEKO and bank pensions [πίνακες] 2024-07-23 07:25:57

The recalculation of old pensions issued before 2016 was either done incorrectly or is pending for many more pensioners or is being rectified by paying additional increments and retroactives.

Already, however, many pensioners are filing lawsuits against the EFKA to lock in their claims and not lose retroactive benefits.

One of the lawsuits filed today brings to light the “Insurance and Pensions” insert. It concerns pensioners of ATE, whose main pensions were recalculated due to the increased contributions they had paid before receiving a pension, but the recalculation proved to be incomplete, because not all periods of increased contributions were calculated, while the contributions corresponding to the Gifts.

The lawsuit is signed by 50 pensioners and the amounts claimed reach 15,779 euros!

In the operative part of the appeal it is stated that in the recalculation of their pensions:

a) the increased contributions they paid up to 31.12.1986 were not calculated, but the percentages of the additional contributions for the period 1987-1992 were used, which were underestimated,

b) were not calculated at all the contributions paid by the pensioners for the salaries of Gifts, leave allowances, balance sheet and on the salaries calculated for the recognition of fictitious years,

c) was not added to the personal difference the marriage allowance,

d) the pensionable salary on the basis of which their original pension was recalculated was indexed up to 2016, while it should also be increased with the inflation of the following two years, i.e. 2017 and 2018, given that in those two years the pensioners received their old pensions and in 2019 they got the recalculated ones.

The lawsuit is a pilot for similar claims by retirees who paid increased contributions to their Funds, but the recalculation and increase they received was not based on all insurance data.

Extra contributions increase the top-up rates at a rate of 0.075% per year for every 1 additional contribution unit. For example, an insured with 40 years, of which 15 had additional contributions of 15 points over 20% (35% total), will have a replacement rate of 72.5% instead of 50%.

The pension bonus from increased contributions was passed in law 4387/2016 (Katrougalou law) with effect for those who retire from 13/5/2016 onwards. However, in the ministerial decision issued on June 7, 2016 to implement the law, an article was added that extended the increase due to increased contributions to old pensioners through the recalculation.

Pension benefits from extra contributions can be seen in the revealing table edited and published by the ‘Insurance and Pensions’ insert.

For example:

1. A pensioner with 35 years in a DEKO or bank Fund, of which for 20 years he had extra contributions of 15%, will have a pension recalculation with a replacement rate of 59.81% of the extra contributions. With a pensionable salary of 2,661 euros, the pension is 2,065 euros gross, while the normal pension (without the extra contributions) would be 1,419 euros. The profit from the additional contributions is 646 euros more pension per month!
2. A pensioner with 39 years, of which for 20 years he had extra pension contributions of 15%, will have a pension recalculation with a replacement rate of 69.96% of the extra contributions. With a pensionable salary of 3,104 euros, the pension is 2,663 euros gross, while without the extra contributions the pension is 1,899 euros. The profit from the extra contributions reaches 754 euros per month.

What should old pensioners do to see if they have the right recalculation?

Pensioners who paid increased contributions, in order to find out if their recalculation was done correctly, should ask EFKA (by calling 1555) for the analysis of their pension recalculation by submitting a treatment request either online or at the branch in their area. The recalculation analysis is equivalent to a pension decision, except that it includes the recalculation of the pension. The recalculation decision is a document that EFKA must issue when pensioners request it.

The premium on pensions from DEKO-bank funds with extra contributions of 15% for 20 years

Pensionable salary	Pension with 35 years		Pension with 39 years
	With extra contributions (59.81%)	Without the extra contributions (37.31%)	With extra contributions (69.96%)	Without the extra contributions (47.46%)
2.366	1.884	1.309	2.131	1.549
2.439	1.929	1.336	2.184	1.584
2.514	1.975	1.364	2.238	1.619
2.588	2.020	1.392	2.291	1.654
2.661	2.065	1.419	2.344	1.689
2.734	2.110	1.446	2.396	1.724
2.809	2.157	1.474	2.450	1.759
2.956	2.247	1.529	2.556	1.829
3.029	2.292	1.556	2.609	1.864
3.104	2.338	1.584	2.663	1.899

* In parentheses are the replacement rates. Gross pension amounts.