Regulatory Decree No. 12/2018
- Issuer: Presidency of the Council of Ministers
- Diploma Type: Regulatory Decree
- Number: 12/2018
- Pages: 5954 - 5956
Summary in plain english
This regulatory decree establishes how the extraordinary update of the pensions of social security and of the convergent scheme of the General Pension Fund is carried out, provided for in the State Budget for 2019.
The convergent scheme of the General Pension Fund (social protection scheme) integrates all workers which were admitted as State employees and agents and which were registered at the General Pension Fund until 31 December 2005.
A social protection scheme is a system to which the workers make contributions while they work and from which they receive assistance when they cannot work, for health reasons or when they reach the working age limit, for instance.What is going to change?
The amount of the pensions equal or lower than 653.64 euros is increased.Who benefits from the extraordinary increase?
The extraordinary update benefits the pensioners who receive, per month, a total pensions amount up to 653.64 euros. These may be:
- disability pensions;
- old-age pensions;
- survival pensions;
- retirement pensions;
To calculate the amount received per mouth, the amounts of all pensions to which an individual is entitled to receive in January 2019 are added.
Therefore, the update value is:
- 6 euros, for the pensioners which have benefited, at least once, from a pension increase between 2011 and 2015;
- 10 euros, for the pensioners which have not benefited from a pension increase between 2011 and 2015.
The entity responsible for the payment of the extraordinary supplement is:
- The Social Security Institute, in the case of pensioners from the social security system;
- The General Pension Fund, in the case of pensioners of the social protection convergent scheme.
This regulatory decree increases the pensioners’ income, making up for the loss of purchase power caused by the non-update of the pensions between 2011 and 2015.When does it enter into force?
This regulatory decree takes effect from 1 January 2019.
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