The members need to fill in the withdrawal of contributions application and attach the following:

1. A transfer report issued by the hotel’s HR department.
2. Α copy of both sides of their identity card (in the case of foreigners, the yellow slip is compulsory).
3. Their IBAN.

Upon receipt of the applications, they will be registered to the system and classified by departure month. No application shall be paid prior to a period of 6 months from the date of the member’s departure, with the exception of those members who have reached the age of 65 or who have ceased to work due to health-related reasons or incapacity.

Right before the expiry of the 6-month period, we send a letter to the members, requesting the following before examining their application:

1. In case they are unemployed, a copy of their unemployment registration certificate issued by the Department of Labour in their name to gain employment, with the registration status “regular unemployed person”. It is specified that they must be unemployed for 6 consecutive months from the date of their departure from the hotel.
2. In case they are employed by a new employer, they must send a detailed statement of the insured person’s earnings by employer for the current year, issued by the Social Insurance District Office.
3. In case they receive a sickness benefit, they must present a certificate issued by the Social Insurance services.

Pursuant to the legislation, no payment can be made if the member continues to work in the hotel industry.

Upon receipt of the necessary certificates, the applications undergo an examination and approval procedure. Then, the cheques are issued, consisting of 90% of Accounts A and B to which the members are entitled, in accordance with the Articles of Association. Any loan balance shall be deduced. Once the cheques are signed, they are deposited to the bank accounts of each member, separately.

As far as the remaining 10% is concerned, we come back to it approximately three months later, after the portfolio has been finalised for the month in which the members became beneficiaries and their first cheque was issued. Any resulting return during the year shall be calculated for the entire amount and shall be included in the second cheque to be issued.