Pensions: REVEALED – Personal difference fee for 100,000 pensions in December [πίνακες και παραδείγματα]

The rate of increase is expected to be around 2.5% and it is estimated that tens of thousands of retirees will zero out the personal difference, as the amount of the increase they will get will be greater than the rest of the personal difference.

The net profit, i.e. the increase they will have over their personal difference, will be up to 30 euros per month, as long as their difference balance is very small.

The larger the personal difference balance, the net gain is limited, and when the increase is less than the personal difference, the benefit is zero.

In the cases where the pensioners zero out the personal difference with the increase they will get next December that will be paid in the January 2025 pension, they will receive for the whole of 2025 the new and higher pension than the one they have today. In practice, pensioners who will zero out the personal difference will for the first time get a net increase in their pension after the Memoranda, because the personal difference was part of the pension they had before its recalculation with the Katrougalou law in May 2016.

The recalculation lowered most pensions issued before May 2016 – especially those pensioners with more than 30 years of insurance – but to avoid reductions pensioners continued to receive the same amount until the increases were equal and greater than the personal difference amount.

The first pension increases were given to pensioners with 30 years of insurance and more from the improved recalculation made with the Vroutsis law (law 4670/2020). This was followed by a 7.75% increase for 2023, a 3% increase for 2024 and now a 2.5% increase coming for 2025.

With the increases so far, about 600,000 pensioners have reduced the personal difference to zero, and there are another 670,000 who have reduced the personal difference and will gradually reduce it to zero with the increases in 2025 and the following years.

It is estimated that around 100,000 pensioners are left with a personal difference of less than 40 euros, meaning that from 2025 they will start getting real increases in their pensions.

The ‘Insurance and Pensions’ insert today reveals with tables by Fund which pensioners have had their personal difference zero with the 2024 increases, who will have it zero with the December increase for 2025 and who will be left with a new balance, which will be offset and will be zeroed out with subsequent years’ increases.

With the 3% increase given for 2024 in pensions, the personal difference was zeroed out for approximately 110,000 old pensioners, with more earned pensioners of the IKA with 35 years of insurance, of the State with 40 years, as well as DEKO Funds and other smaller bodies.

What increases will be needed in the coming years to close personal differences?

With an average pension increase of 2.5% to 3%, pensioners who receive a national and contributory pension of up to €1,200 with a difference balance of up to €35 will see it zero with the increase of one year. Those receiving a national and contributory pension of €800 with a difference balance of up to €50 will need two years’ worth of increases to make up the personal difference. Those who receive a national and compensatory pension of 1,500 euros with a difference balance of 120 to 130 euros. it will take three years of increases to bring it to zero, while those with a €200 gap balance will wait five years of increases to bring it to zero.

Who zero personal difference with December increase

A 2.5% increase in pensions for 2025, which will be paid out next December (about two months from now) will see many pensioners with 35 to 40 years of insurance zero out of the personal gap.

For example:

1. Old-age pensioners of the IKA with 35 years of age currently receive an average of 1,169 euros compensatory and national pension before tax with a personal difference balance of 12 euros. With the increase in December, they will zero out the personal difference and have a net increase (above the personal difference) of 17 euros per month.
2. Old-age pensioners from the Legal Fund with 35 years currently receive an average of 861 euros in compensatory and national pension before tax with a personal difference balance of 13 euros. With the increase in December, they will zero out the personal difference and have a net increase (above the personal difference) of 9 euros per month.
3. Old-age pensioners from the former Agricultural Bank Fund with 36 years currently receive an average of 1,289 euros compensatory and national pension before tax with a personal difference balance of 10 euros. With the increase in December, they will zero out the personal difference and will have a net increase of 22 euros per month.

Double benefit with an allowance of up to 200 euros and a 2.5% increase

Many pensioners who have a balance of personal difference between 10 and 20 euros will get an allowance as well as an increase.

If last year’s criteria for the payment of the allowance are applied, the beneficiaries will have to have a personal difference balance of more than 10 euros.

The double benefit will occur because within December the allowance will be paid first and then the 2.5% increase will be given.

With this series of payments, pensioners who receive, for example, a pension of 700 euros and have a personal difference of 12 euros (a total of 712 euros) will get an allowance of 200 euros, while with the increase of 2.5% they will then manage to make the personal difference to zero as well difference, earning another 5 euros, with the pension at 717 euros (700+2.5%=717). In practice the annual profit in this example will be 260 euros with allowance and increase [200+(5Χ12)=260].

Accordingly, a pensioner who receives 1,000 euros and has a personal difference of 15 euros will get the allowance of 150 euros, while with the 2.5% increase he will get another 25 euros, of which 15 euros will zero out the personal difference and 10 euro will be extra profit in the pocket. The total annual benefit he will have will be 270 euros [150+(10Χ12)=270].

A pensioner who receives 1,200 euros and has a personal difference of 20 euros will get the allowance of 100 euros, while with the 2.5% increase he will get another 30 euros, of which 20 euros will zero out the personal difference and 10 euros will be additional profit in the pocket, with a total annual benefit of allowance and increase of 220 euros.

Which old pensioners zero the personal difference with the December increase

CASH	Pension 2024 (remunerative + national)	Balance of difference after 2024 increase	Total	Pension Jan 2025 with 2.5% increase		New balance p. difference	Profit in the pension after the above difference
Pensions with 35 years of insurance
IKA	1.169 €	12€	1.181 €		1.198 €	0	17
PUBLIC	1.057 €	94 €	1.151 €		1.083 €	68 €	0
TAP-OTE	1.099 €	58 €	1.157 €		1.126 €	31 €	0
OAEE	767 €	208 €	975 €		786 €	189 €	0
ETAA-LEGAL FUND	861 €	13 €	874 €		883 €	0	9
ETAA-TSAV	1.210 €	130 €	1.340 €		1.240 €	100 €	0
ETAA-TSMEDE	1.253 €	212 €	1.465 €		1.284 €	181 €	0
OAP-PPC	1.285 €	43 €	1.328 €		1.317 €	11 €	0
NAT	1.084 €	5€	1.089 €		1.111 €	0	22
OF NATIONAL INSURANCE	1.484 €	3 €	1.487 €		1.521 €	0	34
TSP-ETE	1.095 €	155 €	1.250 €		1.122 €	128 €	0
TSP-ATE	910 €	157 €	1.067 €		933 €	134 €	0
FORMER IONIC BANK	1.231 €	112 €	1.343 €		1.262 €	81 €	0
SHIPPING AGENTS	938 €	0	938 €		961 €	0	23
ETAPMME-TSPEATH	1.281 €	57 €	1.338 €		1.313 €	25 €	0
COOPERATIVE ORGANIZATIONS	979 €	8 €	987 €		1.003 €	0	16
Pensions with 36 years of insurance
PUBLIC (GLC)	1.122 €	72 €	1.194 €		1.150 €	44 €	0
IKA	1.199 €	8	1.207 €		1.229 €	0	22
COOPERATIVE ORGANIZATIONS	991 €	8 €	999 €		1.016 €	0	17
OF NATIONAL INSURANCE	1.443 €	0	1.443 €		1.479 €	0	36
TSP-ETE	1.277 €	85 €	1.362 €		1.309 €	53 €	0
TSP-ATE	1.289 €	10 €	1.299 €		1.321 €	0	22
FORMER IONIC BANK	892 €	91 €	983 €		914 €	69 €	0
TAP-OTE	1.144 €	45 €	1.189 €		1.173 €	16 €	0
OAEE	814 €	247 €	1.061 €		834 €	227 €	0
SHIPPING AGENTS	969 €	20€	989 €		993 €	0	4
ETAA-LEGAL FUND	870 €	18 €	888 €		892 €	0	4
ETAA-TSAV	1.210 €	110 €	1.320 €		1.240 €	80 €	0
ETAA-TSMEDE	1.316 €	193 €	1.509 €		1.349 €	160 €	0
OAP-PPC	1.394 €	33 €	1.427 €		1.429 €	0	2
NAT	1.108 €	10€	1.118 €		1.136 €	0	18

*Pension amounts after deductions and before tax

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