Gov’t to give 859 mln from 2017 state budget for the issue of outstanding pensions

The labour ministry on Thursday announced that an emergency subsidy of 859 million euros, taken from the 2017 state budget, will be given to state insurance funds so that they can proceed with the issue of main pensions that are still pending.

A ministry announcement said the clearance of pending pension applications and awarding of pensions was a key priority, while the goal was to resolve the problem of long delays in the issue of pensions by June 2017.

Since July, pension funds have started paying the lump sums due to pensioners on retirement, which had been frozen since September 2013, and also aims to clear the backlog by next June. Another 905 million euros is to be spent for this purpose, with 8,500 lump sums still pending and 9,000 already paid between July and September.
At the same time, the Civil Employees Share Fund will pay out 22,000 share dividends in November and December.