INSURANCE – WHEN DO I ESTABLISH THE RIGHT TO PENSION – INSURED UNTIL 31/12/1982 AND OTHER CATEGORIES

INSURANCE – WHEN DO I ESTABLISH THE RIGHT TO PENSION – INSURED UNTIL 31/12/1982 AND OTHER CATEGORIES

PROVISIONS OF LAWS 3863/2010 AND 4093/2012 FOR THOSE INSURED IN SPECIAL INSURANCE FUNDS (PERSONNEL INSURANCE FUND OF THE HELLENIC TELECOMMUNICATIONS ORGANISATION – in Greek characters: ΤΑΠ-ΟΤΕ) FOR ALL INSURANCE PERIODS:

FROM THE SECRETARIAT OF INSURANCE OF P.O.S.T. (Pan-Hellenic Federation of Postal Associations – in Greek characters: Π.Ο.Σ.Τ.)

The voting of the new memorandum (Law 4093/2012) has brought changes in all categories of insured and also in the status of the previous Special Insurance Funds (such as the Personnel Insurance Fund of the Hellenic Telecommunications Organization – in Greek characters: ΤΑΠ-ΟΤΕ), which are now integrated in the Social Security Institute-Single Insurance Fund of Employees – in Greek characters: IKA-ETAM – thus abolishing the transition period that was to be until 2015 for those who do not establish pension rights until 31/12/2012.

There are no changes in the provisions in force related to the category of the insured until 31/12/1982, with the exception of marginal cases of employees who have not completed a minimum time of 15 or 25 years of insurance until 31/12/2012, thus do not establish pension rights and have to retire by the general pension age standards applicable in each case; the rule of the 35 years of insurance with no pension age is still valid, whenever it is completed.

Subsequently, the tables and prerequisites that applied to those insured before 1983 (see P.O.S.T. bibliography) are still the same, with the exception of a few cases of insured who did not establish pension rights until 31/12/2012; for the latter the situation changes after 1/1/2013, as is depicted in the new tables presented to you (in separate chapters), concerning all categories of insured for each insurance period (insurance period until 31/12/1982, insurance period from 1983 to 1992 and insurance period from 1/1/1993 onwards).

P.O.S.T.’s Secretariat of Insurance brings to you the provisions concerning all insured colleagues and detailed tables with information on any matter that may interest you.

ESTABLISHMENT OF PENSION RIGHT

The most crucial matter for an employee insured in any insurance institute is the time when he/she establishes the right to pension. The establishment of the right to pension may precede the retirement itself, in fact in many cases it occurs years before the submission of the retirement application. To put it simply, establishment of pension right means that the insured fulfills all the necessary prerequisites (years of insurance or pension age or both, depending on the insurance category the insured belongs to) at a particular year; if one of the prerequisites is to be fulfilled later, then the insured may secure (lock) the prerequisites and conditions on which he/she will base his/her retirement and pension right, as described in detail for each category below:

EMPLOYEES INSURED IN SPECIAL INSURANCE FUNDS (PERSONNEL INSURANCE FUND OF THE HELLENIC TELECOMMUNICATIONS ORGANISATION – ΤΑΠ-ΟΤΕ)

INSURANCE CATEGORY UNTIL 31/12/1982:

-         in order to establish pension right, the insured of this category must fulfill the insurance time required (25 years and 35 years with no pension age required) and

-         if they have fulfilled the required insurance time of 25 years by 31/12/2012, they may secure the pension age of 65 or 60 years for full or partial old age pension (after 1/1/2013, with insurance time of 25 years the insured may retire at 67 or 62) or with the minimum required insurance time of 15 years plus the general pension age, which is 65 years until 31/12/2012 and 67 from 1/1/2013 for full pension.

INSURANCE CATEGORY FROM 1/1/1983 TO 31/12/1992:

-         the insured of this category must fulfill the required time of insurance and also the pension age required by the social security institute from which he/she will receive pension as, for establishment of pension right, Law 3029/2002 and the relevant laws following it require both prerequisites (15 years of insurance+pension age of 65 until 2012, 25 years until 2012+60 or 65 – from 2013 onwards the pension age is 62 or 67 –, while establishment of right to full pension with years of insurance and pension age is:35+58 in 2010, 37+59 in 2012, 40+62 in 2013).

INSURANCE CATEGORY FROM 1/1/1993 ONWARDS:

-         those insured after 1/1/1993, also need to fulfill both time of insurance and pension age (40 plus 62 after 1/1/2013 or 15 years plus the general pension age, which is 62 and 67 from 1/1/2013 onwards).

In conclusion, there is no general rule about the establishment of pension right governing all insurance institutes, in fact the relevant provisions vary a lot and may be different for men and women. For instance, mothers of minors establish pension right if they fulfill the requirement of the insurance years and their children are underage at the time, securing the pension age required at the year when they fulfill both requirements (from 1/1/2013 onwards this possibility is basically abolished for those who did not secure it on time).

This securing of the pension right is very important, as the insured who has established pension right will retire on better conditions in relation to those that will apply on the insured at the time when he/she actually submits the retirement application.

The establishment of pension right combined with the official recognition of fictitious years of insurance may save the insured from several years of work since he/she may establish the right to pension on better conditions applicable at a year prior to his/her actual retirement, provided that the relevant petition is submitted whenever but the latest until submission of the retirement application.

Finally, establishment of the right to pension does not mean that the insured actually has to retire from work. On the contrary, he/she may continue working at a regular basis and the submission of the application for retirement is up to him/her.

EXCEPTIONS:

-         The insured until 1982 who have completed 35 years of insurance and may retire with no pension age

-         Mothers of children who cannot sustain themselves by working

-         Widowers-fathers of children who cannot sustain themselves by working

-         The insured who are in the civil servants’ redundancy scheme (Law 4024/2011)

-         Those who fulfill the requirements to retire until 31/12/2012 because they have completed either the insurance time only or both the insurance time and pension age, where required

-         Several categories of disabled persons, such as blind in both eyes, paraplegics/quadriplegics, suffering from chronic renal insufficiency, suffering from haemophilia etc, with a disability degree of 67% or more; parents and spouses of disabled persons still have the right to retire with completion of 25 years of insurance with no pension age required.

MEN – WOMEN INSURED UNTIL 31/12/1982

MOTHERS OF MINORS OR PARENTS OF CHILDREN WITH DISABILITY (disability degree of 50% or more) OR SPOUSES OF DISABLED PERSONS (disability degree of 67% or more):

 

COMPLETION OF PENSIONABLE YEARS REQUIED (15 YEARS) FROM 1/1/1992 TO 31/12/1997

YEAR OF COMPLETION OF 15 YEARS OF INSURANCE

PENSIONABLE YEARS REQUIRED

PENSION AGE

PENSIONABLE YEARS REQUIRED WITH NO PENSION AGE

1992

15

42

22

1993

15,5

42,5

22,5

1994

16

43

23

1995

16,5

43,5

23,5

1996

17

44

24

1997

17,5

44,5

24,5

 

NOTE: when the 15-year pensionable time is completed, the child of the insured must be a minor and the insured must have completed the pensionable time required at the corresponding year.

COMPLETION OF PENSIONABLE YEARS AFTER 1/1/1998 (SAME INSURANCE CATEGORY):

 

YEAR OF COMPLETION OF PENSIONABLE TIME

PENSIONABLE YEARS REQUIRED WHEN CHILD STILL UNDERAGE

PENSION AGE FOR FULL PENSION

PENSIONABLE YEARS REQUIRED WITH NO PENSION AGE

1998

17,5

50

24,5

1999

17,5

50

24,5

2000

17,5

50

24,5

2001

17,5

50

24,5

2002

17,5

50

24,5

2003

18

50

25

2004

18,5

50

25,5

2005

19

50

26

2006

19,5

50

26,5

2007

20

50

27

2008

20.5

50

27,5

2009