The refunds are open to pensioners after consulting the State Council in light of the final decision. The reductions were not considered constitutional until after 2016 on the grounds that they were justified for reasons of public interest because the measure concerned the sustainability of the social security system.
The Supreme Court’s opinion, according to the newspaper “Apogematini”, comes after a preliminary question sent by the Administrative Court of First Instance in Athens. There was a trial on a lawsuit filed by pensioners, who are demanding retirement benefits and Christmas, Easter and holiday allowances.
The final decision of the Supreme Court, which will provide answers to the entire issue, is expected in the autumn. If that happens, the EFKA will cost around €1.4 billion and retroactive payments are expected to amount to €410 each, while larger amounts are expected to be paid to pensioners in five instalments.
The Council of Europe considered the 2016 cuts constitutional, and noted in its reasoning that it accepted the fact that there was no provision for non-payment of benefits to those who were cut under the provisions of Law 4093/2012 on holiday and holiday gifts. The bonus under Law 4387 of 2016 on the recalculation of pensions for old pensioners does not conflict with the constitutional principles of protecting human value and equality in public burdens.
However, when the case reached the Supreme Court, where it heard a lawsuit filed by a pensioner from the Bank of Greece, the Supreme Court ruled that the reduction in the supplementary pension was constitutional.
What if the Supreme Court acquits the retirees who appealed?
However, if the Supreme Court acquits the nearly 350,000 pensioners who appealed over supplementary pensions, they will be entitled to recover up to €400 million, while if it also acquits them of the main pension gifts, the cost will be between €400 million and €700 million.
Pensions are estimated retroactively for pensioners, if justified, as follows:
- IKA: from 410 euros to 2372 euros
- DEKO and banks: 1111 euros to 4000 euros
- Audience: €668 to €2604
- NAT Lawyers Fund: up to €2,000
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