The average supplementary pension in a total of 30 supplementary insurance institutions amounts to 195 euros per month, an amount that is considered satisfactory, if one takes into account that from 2015 onwards the calculation of supplementary pensions became more unfavorable for new pensioners.
In 11 of the 30 Funds the ancillary fees are over 300 euros, in 9 funds the amounts range from 200 to 300 euros and in the remaining 10 the ancillary fees are from 59 euros to 196 euros.
The highest amount with an average of 617 euros per month is paid by the auxiliary fund of notaries, who, in addition to their contributions, also have a special resource from the fees on notarial acts that further strengthens pensions.
Next are the auxiliary funds of DEKOs and banks. In PPC’s supplementary pension the average pension for new pensioners who made a decision in the first five months is 494 euros, in ERT’s supplementary the average supplementary pension for new pensioners is 335 euros, in OTE’s fund the average supplementary is 272 euros , and at the auxiliary of ELTA at 280 euros.
In the secondary pension of the National Bank the average pension for new pensioners amounts to 400 euros, in the supplementary pension of Alpha Bank employees (formerly Credit Bank) the average pension is 353 euros, etc.
In the State supplementary pension (TEADY) the average pension is 196 euros, while for employees of the private sector (subsidiary IKA) the average supplementary pension amounts to 158 euros.
In the first 5 months, approximately 48,000 new supplementary pensions were issued, of which 18,862 were State supplementary and 18,426 IKA.
Supplementary pensions issued following 2015 are subject to two calculations, one for insurance years up to 2014 and one for insurance years from 2015 onwards. In the supplementary section up to 2014, the key to increasing the supplementary is wages and years of insurance, while for the pension section corresponding to insurance from 2015 onwards, the contributions paid by the insured in combination with the retirement age.
For the years up to 2014, the supplement is calculated at a rate of 0.45% per year and is multiplied by the pensionable salary that the insured had from 2002 to 2014, while from 2015 onwards the amount of contributions is multiplied by factors (rates) reduction of the pension the lower the retirement age of the insured. Thus an insured with a high salary may have paid large contributions following 2015, but if he retires at 60 instead of 67 he will have a penalty in the amount of the pension.
An early retirement penalty is also applied to the pension section until 2014, which is equivalent to a reduction of up to 30% of the supplementary pension if the insured retires with a reduced pension from the main insurance fund.
The new system favors those with many years until 2014, while it does not favor younger insureds who will spend most of their years following 2015.
What regarding those who paid higher contributions to supplementary insurance?
An extra bonus is provided for the supplementary pensions for the insured of the funds in which the employee and employer contributions were greater than 6%. This bonus is an increase of the supplementary pension calculated at a rate of 0.075%, except for the ETEAEP and the Ministry of Labor did not have still applied this favorable provision for all those who retired following 2015 having paid high contributions for their supplementary pension until 2014. The payment of the increases concerns over 100,000 pensioners following 2015 who are retroactively entitled from 3,500 to 12,000 euros.
THE NEW SUPPLEMENTARY PENSIONS ISSUED IN THE FIRST 5 MONTHS OF 2024
| SECTORS OF INSURANCE ETEAEP | AVERAGE NUMBER OF NEW SUBS |
| TEAVDP (Shipping and Tour Agents) | 369 € |
| TEAVEK (Commercial Employees) | 194 € |
| SPEAK (National) | 400 € |
| TEAPOZO (Winery – Brewery) | 279 € |
| TEACH (Chemical) | 305 € |
| TEAPOKA (Insurance Funds) | 222 € |
| TADKY (Municipal Employees) | 204 € |
| TEAPPERT (ERT and Tourism) | 335 € |
| TEAA (Bakeries) | 132 € |
| TAS (Notaries) | 617 € |
| TEADY (Public) | 196 € |
| TEAVAP (City Police) | 132 € |
| TEAPS (Firemen) | 146 € |
| TEAEX (Gendarmerie) | 124 € |
| TEAEIGE (Professors Id. Education) | 209 € |
| ELEM (ATE) | 471 € |
| TEAD (Lawyers) | 133 € |
| ETEAM (Employees IDAX-Public) | 232 € |
| KEAN (Navy) | 248 € |
| TEAPIEN (Merchant Navy Institutions) | 489 € |
| TEATTATH (Technical Press/Victory)) | 239 € |
| TEAPETVA (formerly ETVA) | 365 € |
| TEAP PPC (PPC Employees) | 494 € |
| TEAP OTE (OTE Employees) | 272 € |
| TEAPELTA (ELTA Employees) | 280 € |
| TEASIT (Owners – Press Editors) | 96 € |
| TAPTP (Credit Bank Employees) | 353 € |
| ETEA-OPS (Employees’ IKA) | 158 € |
| TSMEDE (Engineering) | 59 € |
| TEAPYK (Pratiriouchoun) | 365 € |
Source: EFKA-IDIKA
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