A fair solution to ex officio decrease of the reduction of pensions from the State Social Insurance for pensioners who have kept their funds in a general pension fund

The pensions already granted to people who have kept their money in the general pension funds (GPF) will be recalculated ex officio as of 1 September 2021. This is according to amendments to the Social Insurance Code, which were adopted by the Parliament and have already been promulgated in the State Gazette.

As we have already informed our clients, more than 15,000 people will be entitled to the recalculation of pensions because a new methodology for determining government pensions for persons also assured in the GPF came into force on September 1. After the changes, the reduction of the pension they received from the National Social Insurance Institute (NSSI) of nearly 20% will be decreased to about 10%.

Initially, people who had kept their money in the GPF had to apply to the NSSI to have their pensions recalculated according to the new rules. With the latest changes to the Social Insurance Code, this will be done ex officio. This decision is fair and thus everyone will start receiving their increased pension without having to queue and physically visit the offices of the NSSI to apply for recalculation.

The texts adopted by the MPs stipulate that the increase will come into effect as of September 1.