A lump sum, but not paid in a lump sum

The Labor Ministry is seeking ways to accelerate the processing of pending retirement lump sum applications, as despite assurances that the number of outstanding cases is coming down, reality suggests that there may be more than 200,000 retirees still waiting.

In the draft law concerning the settlement of social security dues in up to 120 installments, which will be voted on by Parliament after Easter, there will be a clause providing for the prepayment of part of the retirement lump sum due from the Single Fund for Auxiliary Social Security and Lump Sum Benefits (ETEAEP).

Speaking on Friday on ANT1 television, Deputy Social Security Minister Tasos Petropoulos implied that such a clause will be in the ministry's bill. Asked about the pending applications, he said solutions to the problem are being examined for a large part, such as 80 percent, to be paid out as a...