As the years pass, the “loopholes” that provide the right to faster retirement are closing, along with opportunities to supplement retirement income, as even a single contribution can be decisive for receiving a pension. Searching for lost contributions is not an easy process, but there are eight ways that unlock the door to finding them and provide the opportunity, combined with favorable provisions for early retirement, for someone to retire without having to remain at work until age 65 or 67.
An essential prerequisite before applying for retirement, now that it’s the last month of the year when most applications are typically submitted so beneficiaries can gain increases from the beginning, is checking contributions and counting them completely, as contributions are lost during strike mobilizations that have occurred over the years.
It should be noted that contributions before 2002 have not been computerized going back years and do not appear anywhere, as they are handwritten and often have not been properly recorded. The methods of discovery are simple, as what needs to be done is:
- The beneficiary should access the new electronic service of EFKA “Summary Insurance History,” where they can be informed about all insurance periods by former Fund for non-employees or employees that are displayed collectively. This way someone can identify periods where contributions are missing.
- In cases where no insurance data exists from relevant services until December 31, 2001, first search for the “lost time” in the “Individual Insurance Account” application of the computerized system on the electronic website www.efka.gov.gr. The search will be done with the tax number and social security number, then follow the Usage Instructions to display your account. There the insured person’s detailed record appears with all contributions and earnings. You therefore have the ability to see and print the insurance time you have documented.
- If the time results from the IDIKA application, it is recapitalized and no other action will be required.
- In cases where no time results from the IDIKA application or the insured person requests more time than already recapitalized, then you must submit to the Pension Service a relevant request and Responsible Declaration of Insurance Booklet Loss.
- The application form can be obtained by interested parties from the electronic address (internet.efka.gov.gr) in the relevant field of forms from the competent Registry department (Responsible Declaration of Insurance Booklet Loss).
- Upon receiving the request from the insured person, the service must check the correct completion of details to facilitate the further process. At the same time, the health booklet for the disputed time period mentioned in the Responsible Declaration of Insurance Booklet Loss will be sought.
- The request will be forwarded by the pension service to the branch office of the place of employment.
- After issuing a decision, the branch office of the place of employment will communicate it to the insured person and the competent Pension Service where the request was submitted. Required documents include a responsible declaration, while the previous and subsequent insurance booklets of the lost one and the health booklet for the time period for which recognition is sought are also submitted.
Which categories of insured workers can retire early
Let’s see in detail which categories of insured workers can retire early. These are special categories in the Public sector, IKA, parents of minors and those with successive insurance, who can secure immediate retirement, provided they act early, before the next reform in age limits. The minimum time for exit is set at 33 years for private sector employees and 28 for public servants. The purchase cost corresponds to the main pension contribution (20% of earnings). Those born up to 1964 can receive a pension immediately – or until 2026.
In the private sector, those insured in heavy and unhealthy work have the possibility of exit before the general limits
For the Public sector, the 35-year rule applies with vesting in 2010. Those who completed their 58th year by December 31, 2021 have retirement rights. The limit reaches up to 61 years and 6 months, provided it is completed by 2026. With 36 years and vesting in 2011 and 58 years by December 31, 2021. The limit also reaches 61 years and 6 months. Example: An employee with 36 years in 2021 born in June 1964 retires in December 2025.
Early or reduced pension applies to those with 25 years by 2012 who complete the corresponding age limit by December 31, 2022. With 25 years in 2010, women at 55, 25 years in 2011 applies to men and women at 56, and 25 years in 2012 applies to men and women at 57 years. Those who complete the limit after January 1, 2023 need to reach 62 years.
In the private sector, those insured in heavy and unhealthy work have the possibility of exit before the general limits. With 7,500 heavy and 10,500 total contributions: pension at 60 (reduced) or 62 (full). With 3,600 heavy and 4,500 total: full at 62.
One of the most favorable provisions remains that concerning parents with minor children – in the Public sector, DEKO-Bank Funds and IKA. Public sector and DEKO-Banks with 25 years with a minor and completed 25 years in 2010, someone can retire at 50 years. Correspondingly, with completed 25 years in 2011 they retire at 52 and in 2012 at 55 years.
Published in Money Pro of Parapolitika
