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Name: Law N 4334 of 2015 introducing emergency adjustments for the purposes of negotiating and concluding an Agreement with the European Stability Mechanism (ESM).
Country: Greece
Subject(s): Social security (general standards)
Type of legislation: Law, Act
Adopted on: 2015-07-16
Entry into force:
Published on: Efimeris tis Kivernisseos, 2015-07-16, Part A', N 80, pp. 745-768
ISN: GRC-2015-L-102284
Bibliography: Efimeris tis Kivernisseos, 2015-07-16, Part A', N 80, pp. 745-768
Text in Greek Text in Greek Ethniko Tipografio, Athens, Greece, pp. 745-768 PDF of Official Gazette in Greek PDF of Official Gazette in Greek (consulted on 2016-07-11)
Abstract/Citation: The Law includes the text of the Euro Summit Statement of 12 July 2015 in both English and Greek language and, under its unique Article 1, introduces regulations for issues falling under the jurisdiction of the Ministry of Finance.

Article 1, paragraph 27 regulates the granting of pension to retirees of all social security funds entitled to it from 30/6/2015 onwards, by granting first the pension corresponding to the paid contributions, and on completion of the 67th year of age, the full amount of the guaranteed minimum pension. It also amends 1st phrase of paragraph 1, article 4 of Law N 3863 of 2010, concerning the persons who have been placed until the 31/12/2010 under the insurance coverage of any institution of main insurance or the State and who submit after the 1/1/2015 a retirement claim application for old-age or invalidity pension.

Article 1, paragraph 28 stipulates that, starting from 1/1/2015, all funds and sectors of supplementary insurance are compulsorily integrated into the Unified Auxiliary Insurance Fund (ETEA).

Article 1, paragraph 29 sets as resources of all the funds of supplementary insurance integrated into the Unified Auxiliary Insurance Fund (ETEA), the ones provided for by article 38 of Law N 4052 of 2012.

Article 1, paragraph 30 provides for the rate maintenance of the retirement contributions guaranteed on a monthly basis (state subsidy) that are due to the social security funds of main insurance.

Article 1, paragraph 31 stipulates that, starting from 1/7/2015, the healthcare contributions of all institutions of main insurance are settled to 6% and are deducted from the main pensions, and establishes, starting from the same date, a healthcare contribution of 6% for all supplementary pensions, which is deducted from the paid supplementary pensions.

Article 1, paragraph 32 stipulates that the implementation issues of all previous provisions related to the entry conditions of funds or sectors to the Unified Auxiliary Insurance Fund (ETEA), are adjusted by means of decisions of the Minister of Labour, Social Security and Social Solidarity to be issued until the 31/7/2015.
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