Debtors’ deposits to be probed

The retirement process for debtors with arrears of 20,000 to 30,000 euros is stuck in the probing of deposits, as based on estimates, it will take around two months before the Single Social Security Entity (EFKA) and the banks are in a position to check the average bank deposits of the year, before the submission of the retirement application.

That is because the law states that only if the debtor has deposits below €12,000 will he or she be able to receive a pension, with EFKA withholding a part of that amount to cover debts.

According to sources, EFKA and banks are in contact to define how to lift bank secrecy and check deposits, with the prevailing scenario being that the average of deposits in the year before the application is submitted will be checked: If it is below €12,000, then the process begins. Otherwise, the pension application will be rejected and in...