Athens, 10 June 2019
Following published reports regarding the submission to Parliament and enactment of a legal amendment regarding the matter of payment of supplementary pension to the beneficiaries of the LEPETE and ELEP PP ETHNAK supplementary pension funds, National Bank of Greece informs investors that, although the mode of implementation of the specific provision requires further clarification, the said legal provision states, among other things, that “As of 1/1/2019 National Bank of Greece (NBG) shall pay to ETEAEP the relevant supplementary insurance contributions, as per the provisions applicable, for all insurees of LEPETE and ELEP PP ETHNAK, plus a supplementary insurance contribution, which for the years 2019 through 2023 amounts to Euro 40 million annually...”.
Note that this legislative initiative is considered to contravene fundamental constitutional provisions and, accordingly, NBG will take every measure necessary to reach a consensus resolution that will protect the interests of the Bank, its employees and its pensioners.
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