ASM Premiums were increased in Jan 2018 following the contract extension with Allianz. The premiums had not been increased during the period 2015-17.
All retirees were informed by their Administrations (FAO,WFP,IFAD) of the increased premiums for 2018-2019 in circulars sent out to them. WFP and IFAD premiums were increased by some 4.5%
whilst premiums for FAO retirees were increased in percentage terms of their imputed full pensions (incl any lump sum taken).
For FAO retirees the following increases in premiums for 2018- 2019 were made:
Single. 1.5% increased to 1.81% with max deduction of Euro 232.35 or $ 286.98
Single +1..3.0% increased to 3.62% max deduction of Euro 464.68 or $573.96
Single +2.
3.78% increased to 4.56% max deduction of EU 585.80 or $ 723.54
Premiums are capped at 4% of full pension
How to calculate future premiums you may pay and retroactive deductions:
As each retiree has a different imputed pension, one can get a rough idea of what deductions in future might be made by FAO as follows:
Take the last (2017) ASMC deduction from your last pension statement and add 20% to get the estimated premium to be paid from March 2019 onwards e.g.
ASMC deduction from pension 2017 say Euro 200 …. Add 20% = Euro
240 which gives the monthly premium payable in 2018 and 2019.
Underpayment of premium since Jan 2018 will be Euro 40 per month which will need to be paid for 14 months (Jan 18-Feb 19) = Euro
560 which will be paid by deductions from pension payments as of May 2019 in 8 equal installments.
We have not included the increases in MMBP rates in 2018 which were relatively small over those of 2017 viz. Retiree +1 increased from Euro 26.16 to Euro 29.50.
Similar calculations can be made by WFP retirees: the premium is a flat premium by family size .. the underpayment is the difference between the 2017 rate and the announced 2018 rate multiplied
by 14 months and this amount will be taken in 8 equal installments from pension payments as of May 2019.