The improvement in the general level of pensions is reflected in the monthly “Helios” report for June 2024, according to which pensioners with a monthly income from pensions above 1,000 euros reach 40% (actually 39.6%) of 37.5% which was in the same month of 2023. However, the majority of main pensions are in the range of 500-1,000 euros.
The average monthly income of pensioners from main and supplementary old-age pension is 1,079 euros for June 2024 and appears increased by 4.35% compared to the corresponding average income from pensions in June 2023 which was 1,034 euros.
The average main old-age pension income is €855.79 in June 2024, up from €825.74 in June 2023. The average main death pension is €558.57 (up from €541.64 in June 2023) and the average main disability pension stands at €599.94 from €589.26 last year.
In supplementary pensions, the average old-age pension is 199.83 euros for June 2024 (from 198.47 euros in the same month of 2023), while supplementary death and disability pensions are 120.27 euros and 133.37 euros respectively (from 119.51 euros and 135.63 euros which were in June 2023).
The improvement in the level of pensions is also reflected in the amounts received by new pensioners.
In June, 27,079 new pensions were paid. Of the total of new pensions, 15,662 were main pensions from EFKA, 1,272 were main State pensions, 8,681 were auxiliary pensions while 1,245 new dividends were paid from the Civil Servants’ Equity Fund, 8 main pensions from the Bank of Greece fund and 251 pensions to uninsured senior citizens from OPECA.
In June 2023, 23,555 new pensions had been paid, of which 12,540 from EFKA, 2,320 from the State, 7,619 additional 771 new dividends, 8 from the Bank of Greece and 297 from OPECA.
From the comparison of the amounts of the new pensions of the two months, it follows that in June 2024 the amounts received by the new pensioners are greater than in the same month of 2023, as the average amounts show increases of 10% and 14% for EFKA and Public, and 30% for new pensioners from the Bank of Greece.
The increase in new pensions is due, on the one hand, to the fact that the insured retire with more insurance time which ensures them a better replacement rate. Especially those who retire with 1 extra year from age 35 to age 40, earn a 2.55% annual increase in the replacement rate that leads to a significant increase in pensions, even if the insured retire with lower wages than older retirees.
Increases per fund
In the revealing table edited and published by “ET” it seems that:
*The average old-age pension for the new EFKA awards amounted to 862 euros in June 2024, from 784 euros in June 2023, an increase of 10%.
*The average old-age pension for new State awards was €1,341 in June 2024 from €1,171 in June 2023, an increase of 14%
*The average old-age pension for new Bank of Greece pensioners amounted to 3,166 euros in June 2024 from 2,427 euros in June 2023, an increase of 30%.
*The average supplementary pension for the new payments from the ETEAEP amounted to 284 euros in June 2024 from 225 euros in June 2023 (26% increase).
*The average dividend for new June payments from MTPY fell to €210 from €233 in June 2023 (down 10%).
The new pensions of June 2024 and the comparison with June 2023
| CASH | Old age pensions | Death pensions | Disability pensions | ||||||
| 6o 2024 | 6o 2023 | Change 2024/2023 | 6o 2024 | 6o 2023 | Change 2024/2023 | 6o 2024 | 6o 2023 | Change 2024/2023 | |
| EFKA | 862 | 784 | 10% | 608 | 579 | 5% | 592 | 587 | 1% |
| EFKA-PUBLIC | 1.341 | 1.171 | 14% | 523 | 585 | -11% | 1.206 | 962 | 25% |
| BANK OF GREECE | 3.166 | 2.427 | 30% | 1.870 | 1.470 | 27% | – | – | – |
| ETEAEP | 284 | 225 | 26% | 138 | 135 | 2% | 202 | 210 | -4% |
| MTPY (DIVIDENDS) | 210 | 233 | -10% | 102 | 98 | 4% | – | – | – |
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