When calculating disability, unemployment and survivors’ pensions, the share of pension for projected pensionable service is added to the pension amount.

Projected pensionable service refers to the period from the start of the pension contingency year until the age when you would have been entitled to retire on an old-age pension if you had continued to work uninterruptedly in a MEL employment contract until you reached retirement age. Thus, when awarding pension for projected pensionable service, the Seafarer’s Pension Fund calculates pension until the age of 55– 63. A pension contingency refers to the onset of disability, the death of a person through whom a benefit is derived and the moment when all requirements for receiving unemployment pension are fulfilled.

The requisite for taking into consideration projected pensionable service is that during the ten calendar years preceding the pension contingency year you have earnings that come under earnings-related pension legislation that total no less than 15,746,08 euros (2011 index). In this instance, all earnings insured in accordance with earnings-related pension legislation are taken into consideration.

Earnings for projected pensionable service are calculated as the average earnings for the five years preceding the pension contingency year. The less you have earned during the last five years, the smaller the pension component for projected pensionable service forms of your pension. If you have had no earnings whatsoever, the pension does not include a pension component for projected pensionable service.

The annual accrual rate of a pension for projected pensionable service is determined according to the age when the pension contingency occurred and whether MEL special or general accrual rates apply when awarding the pension:

Pension accrual for projected pensionable service at the age of 18-49 years

Pension accrues for projected pensionable service from 18 years of age until 50 years of age at an annual rate of 1.6% (special accrual rates) or 1.5% (general accrual rates) on earnings for projected pensionable service.

Pension accrual for projected pensionable service at the age of 50-62 years

Pension accrues for projected pensionable service from 50 years of age until 63 years of age at an annual rate of 1.4% (special accrual rates) or 1.3% (general accrual rates) on earnings for projected pensionable service.

Pension accrual for projecter pensionable service if disability starts 2010 or later

Pension accrues for projected pensionable service for those aged 18–63 at an annual rate of 1.6 % (special accrual rates) or 1,5 % (general accrual rates) if the point in time when a disability pension is activated is the year 2010 or later. If disability has begun before 2010, pension payments are accrued as mentioned above.