How retirees with EFKA debts will get their pension
At least 333.30 euros per month will be withheld from the pension of debtors to the Single Social Security Entity (EFKA), as long as they meet all the conditions and the pension decision is issued based on the recent legislation.
The joint ministerial decision of the ministries of Labor and National Economy is expected within the next few days, in order for banks and EFKA to start the procedures of interconnecting their systems.
The prospective pensioner with debts of up to 30,000 euros (€10,000 for farmers) will submit an application – a formal declaration that they accept the lifting of bank secrecy in all financial institutions where they have an account or investment product in their name, in order to establish the size of their property.
As long as this does not exceed €12,000, they will receive a pension, but reduced by 40%, as this will be withheld by EKFA in order to reduce the debt to at least €20,000.
This withholding may in no case be less than €333.30 per month for freelancers and €100 for farmers.
When the debt falls below €20,000, then the pension will increase and the installment will be at least €50.
The arrangement for full repayment will take 60 months.
