Significant increases in pensions are expected to be provided to those with over 30 years of insurance and a salary of more than 1.500€. At the same time, the association of contributions with income ceases to be valid and is replaced by insurance classes with a threshold of 210€ per month.

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The primary purpose of the bill is to provide incentives to stay in work for at least 35 years.

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The draft bill provides in detail:

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1. The new replacement rates for the main pensions

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The retirement pensions will be adjusted retroactively from 01/10/2019 according to the new replacement rates and any resulting increases will be paid from this date. On the basis of the new rates the old pensions will be recalculated from the beginning.

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New rates are being increased according to the years of insurance.

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   2. Increases in supplementary pensions

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Supplementary pensions related to applications submitted until 31 December 2014, continue to be paid from 1 October 2019 to the amount adjusted, in accordance with the provisions in force on 31/12/2014.

 

   3. Six categories of insurance for freelancers.

 

The main insurance levies of freelancers, the insurance categories are as follows:

• 1st category : 155 €

• 2nd category : 186 €

• 3rd category : 236 €

•  4th category : 297 €

•  5th category : 369 €

•  6th category : 500 €

 

Health contributions amount to 55€ for the 1st category and 66€ for the 2nd to 6thcategory.

 

   4. The double levy for employees with a block is over.

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The bill of the new insurance system also stipulates that EFKA insured persons pursuing two or more professional activities, either as employees or self-employed or freelancers, or occupation subject to the insurance of the former OGA, pay for any new professional activity the corresponded insurance levies.

In cases where there are more than one employee occupation at the same time, the levies provided for on a case-by-case basis and up to the highest limit of insurable earnings shall be paid for each employee occupation

 

   5. Which branches may be optionally subject to the supplementary pension and the lump sum payment.

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From 01/01/2021 in the Insurance of the Supplementary Insurance Branch of the E.T.E.A.E.P. (Single Supplementary Insurance Fund and Lump-Sum Payments) may, on request, be optionally covered by persons covered by the former OGA insurance. as well as persons who according to a special or general provision of law are exempted from compulsory affiliation with the Supplementary Insurance Branch of the E.T.E.A.E.P. Non-obligatory affiliation insurance since its beginning follows the rules of obligatory insurance.

 

   6. Reduction of employer-employee levies.

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From 1st of June 2020 in the case of full-time employment, employees' social security levies are reduced by 0,90.