Earned € 100 million, Cyta claims, due to the departure of 521 employees through the voluntary retirement plan, as payroll costs were reduced.
The plan was implemented in 2013. At the same time in 2015 the plan had a positive effect on the profitability of the Organization. Essentially from 2013 to 2015 there is a decrease from € 341 million to € 286 million in the operating costs of the Authority.
Specifically, of the total number of employees, 316 had not reached retirement age under the Social Security system but under the provisions of the Cyta Pension Fund, where they are entitled to receive a pension from the age of 55.
According to data sent to Parliament by Cyta, if the specific 316 former employees remained in the Organization until the date they would retire normally, their salary earnings would be € 178,9 million, including the employer's contributions of € 51,7. million
However, the amount of pensions that employees will receive in the same period will be around € 55,2 million. normally, the amount will be € 78,8 million.
Therefore Cyta would again have a lower cost by € 99,9 million.
As the Agency notes, the savings are actually greater as a large number of retirees were not at the top of their scale.
Their earnings, according to the Authority, if they remained in Cyta, would be even higher due to the increases, while some of them would receive promotions and salary promotions. The data will be put under the microscope of the members of the Parliamentary Committee on Finance on Wednesday.
Source: The Liberal