Beneficiaries of the heating allowance and pensioners get their turn at the ATM

By Chrysostomos Tsoufis

After yesterday’s €500 million to 2.3 million beneficiaries for the €250 accuracy check, the Ministry of Finance reserves an injection of liquidity for today, as the first installment of the €190 million heating allowance will be paid. Thus, within 48 hours, almost €700 million will have fallen on the market.

Old beneficiaries will receive the full amount as an advance payment allowance that they received last year regardless of the amount of purchases they have made so far, of course the required offsets will be made during the next 2 payments that will follow. New beneficiaries will receive the money they are entitled to for purchases billed by the end of November. In total, the applications have exceeded 1.1 million.

After today’s payment, €110 million remains (the total fund amounts to €300 million) which will be paid in 2 installments. End of February 2023 the next installment will be paid for purchases invoiced by January 31, 2023 provided the required information is entered by February 15, 2023. Last payment at the end of April for all purchases invoiced by March 31 2023 with the deadline for submitting the required data until April 15.

Consumers should be aware that the subsidy on its price heating oil reduced from the new year to 15 minutes from the current 25. It remains unknown what will happen to the 3.5 minutes of discount that refiners provide and will continue to provide throughout December. Therefore, a significant increase in the price of heating oil is expected from the new year (with unknown x and geopolitical developments) therefore anyone who has not yet topped up their tank should do so by the end of the year while prices remain low ( the pan-Hellenic average is currently at €1.126/litre).

But the payments don’t stop there. From today until December 23, the advance payment of pensions for the month of January will be made. State pensioners with an income of more than €12,000 per year will see increases in their earnings due to the abolition from 2023 of the solidarity contribution to the State as well.

Today is also the deadline for employers to pay their employees the Christmas gift. All employees employed in the private sector with an open-ended or fixed-term, full-time or part-time dependent work relationship are entitled to the gift, regardless of the identity of the employer. It is forbidden to give the gift in kind and its non-payment activates the process of self-imposition for the debtor.

On December 30, the State will pay its contribution to subsidize the installments of the loans included in the GEFYRA program as well as the loans included in the protection of the first home.

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