2024-08-18 13:52:23
A positive sign for his income EFKAwhich can reach up to 330 million euros, is created by the cumulative attendance pensioners to state that they continue to work. Already the figures of the Ministry of Labor show that there have been more than 190,000 pensioners in this category, with their number increasing at a constant rate. All of these pensioners, from now on, will not have the slightest cut in their pension, which means that they avoid the 30% tax that was in force until the end of last year. Instead, their only burden will be the imposition of a 10% fee on their annual income for pensioners who provide salaried services.
For those who continue to work as self-employed, the corresponding fee will be of the order of 50%, based on the insurance category they have chosen. This is a resource that was established in the recent insurance law (n.4078/23) and the revenues that will arise from it will end up in the EFKA Funds. However, all pensioners who continue to work should be aware that, from the time they apply for employment, it is largely determined whether or not they are at risk of suffering the severe penalty of losing 12 monthly pensions.
It has been calculated that the income to the Agency from this resource may exceed 400 million euros on an annual basis, as long as the number of pensioners who declare that they are employed continues to increase. Since the charge – 30% cut on the monthly income from pensions has been abolished, pensioners choose to display their work, as now the risk is only in the field of control: If they are identified as working but have not declared it to EFKA , then the penalty reserved for them amounts to an amount equal to 12 monthly pensions! That is, those who do not declare their work and are retired, if detected by the Agency’s controls, lose one year’s pensions.
Unexpected income
The burden on EFKA, from the increase in expenditure resulting from the payment of the entire pension, is estimated not to exceed 70 million euros in the upper range. After all, it is estimated that a significant number of them were also working in the previous years, but did not declare it as there was the loss of 30% of their pension, as a penalty. Thus, for a large number of pensioners, the expenditure paid by the Agency for their monthly pensions will remain unchanged, since before the system did not “see” them as employed in order to make a 30% cut. Therefore, in the EFKA, it is possible that in the new year, unexpected revenues will arise from this process, which may exceed 330 million euros.
As emphasized in an EFKA circular issued at the end of July, the electronic declaration of employment must be carried out by retirees at specific time intervals. In particular and given that the Insurance Law was passed at the end of last December, those who worked in the period January – March 2024, if they stopped working, had to declare it within four months after the start of the implementation of the measure, at the latest. So they should have done it by the end of July last month. Those who did not do so, enter the “frontline” of the control by the competent services of the EFKA and, if detected, will suffer the severe penalty of the loss of 12 pensions, as stipulated by law.
After March 1st
Accordingly, those who took up employment after March 1 of this year can submit an online application until the last day of the month in which they took up employment. Therefore, even those who have started working in the March-July period, if they have not accepted – updated their work, by submitting a relevant application to the Agency, are at risk of a similar fine. Those, on the contrary, who started working in the current month, August, or those who will take up work in the future, should know that they can submit their application in time, until the end of the month in which they started working. Otherwise, they will find themselves in the same unpleasant position, risking a fine, as the above cases.
This specific obligation concerns pensioners who are either employed or self-employed.
The new electronic platform is available from the EFKA website, but interested parties need to use the taxisnet codes they have in order to submit the relevant employment statement.
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