Two windows are provided in the current legislation for those over the age of 67 who have not met the conditions for a pensionable 15 years. First, the option is given to redeem the required years of insurance for thousands of insured people of EFKA who, in their old age, over 67 years old, did not complete 15 years of insurance and receive a pension.
Second, those who are insured but have not completed 15 years of paid contributions to receive a normal pension from EFKA will return to the solidarity allowance (399 euros), which is granted at the age of 67 and with income criteria.
In particular:
OPECA provides it to uninsured seniors and those who do not meet retirement conditions, as long as they meet the following conditions:
- They have completed their 67th year of age.
- They do not receive or are not entitled to receive a pension from abroad or any insurance benefit or welfare from Greece above €399.54. If this pension or benefit from a public body they receive is less than the allowance of €399.54, they are entitled to the amount of the difference that results after deducting the amount of the pension or benefit they receive from the allowance.
- They have lived permanently and legally in Greece for 15 consecutive years before submitting the application to receive the benefit, or 15 years between the ages of 17 and 67, of which ten 10 consecutive year before submitting the application and still living in Greece even after receiving the benefit.
The total annual taxable income of the applicant, as well as the exempt or taxable income in a special way must not exceed 4,320 euros and in the case of married couples, the total taxable family income, as well as the exempt or tax of a special. way income must not exceed 8,640 euros.
The total taxable value of the applicant’s immovable property does not exceed a total of 90,000 euros, while the expected purpose expenses of his movable property (passenger cars, medium-sized cars or even two-wheelers) does not exceed the amount of 6,000 euros.
Pension with 15 years with redemption
The way to retirement has been opened by buying the necessary years of insurance for thousands of EFKA insured people who, in old age, over 67, have not been able to complete 15 years of insurance and receive a pension. In particular, the following are expected:
- Insureds with social security institutions that participate in e-EFKA and turn 67 on 31/12/2022 can recognize up to 150 days of insurance or 6 months to establish the right to a full old age pension, according to the applicable provisions of the pension law, of the bodies where they are insured. The beneficiaries of this recognition are those insured in the former Social Security institutions participating in e-EFKA as well as those working in the Public Sector, with an employment relationship under public law, who:
- They have reached the age of 67 on 31/12/2022.
- They make a total of 4,350 to 4,499 days of actual insurance, accumulated by one or more former operators who participated in e-EFKA.
- They permanently quit their job and actual or optional insurance.
- They did not apply for retirement.
- They are not retired from any body in Greece or abroad.
- They are not entitled to a pension for any reason, in accordance with the provisions of the law of the bodies that joined the e-EFKA, or the provisions applied by the State or Bank of Greece or foreign insurance bodies.
- They don’t know more than 5 years of fake insurance time.
Recognition is made through a one-time payment to the insured of employer and insured contributions, corresponding to the recognized insurance period, based on current, at the time of submission of the application for recognition, daily wages of an unskilled worker.
Optional insurance
- Those who have been insured for at least 500 working days or for 20 months, within 5 years prior to the date of submission of the retirement application, may continue to optionally continue their insurance for up to 3 years from the submission of the application for retirement.
Those insured in the former Social Security institutions who participate in e-EFKA and work in the Public Sector with an employment relationship under public law have the right to be included in the optional insurance, provided they meet the following conditions:
- They applied for retirement.
- They have been insured for at least 500 working days, during the last five years before the date of submitting the pension application, which must come from compulsory insurance