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Home NATIONALAll pensions to be paid on 7th day from October
Sun, 23 Jun, 2013 02:01:38 AM
FTimes Report, July 23

The government has decided to make all the payments of pension money simultaneously on the 7th day of every month from October, said a recent government press release.

Ministry of Social Affairs and Health has said that all the national pensions, front-veterans' supplements and front-veterans' additional supplements will be paid on the day.
At present the payments are made in three different days, 4th, 14th and 22nd day of the month, in accordance with the first letter of the benefit recipient's surname.
The ministry said the alteration would not affect the dates of payment of earnings-related pensions.
In order to avoid delays, the payment date has been chosen with a view that no other payments in great numbers would be made by banks on the same date. If the 7th day of the month is not a banking day, the pension will be paid on the previous banking day.
It is estimated that there will be approximately 700,000 payments from the Social Insurance Institution (Kela) on the 7th day of every month, and that the alteration will affect approximately 660,000 benefit recipients, the press release added.
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