Article 62 of Social Insurance Law

If the insured person is not entitled to a retirement pension upon termination of participation in the insurance, that person shall be entitled to a retirement gratuity, payable only in the cases and in accordance with the conditions and rules issued by a decision of the Minister after approval of the Board of Directors. The gratuity shall be calculated at a percentage of the annual value of the average of the brackets stipulated in the preceding Article, equivalent to the last rate on the basis of which the contribution was due, for each year of the period counted under this insurance, provided that it is not less than one year. A retirement gratuity calculated in accordance with the preceding paragraph shall also be payable for the period exceeding the period necessary for entitlement to the maximum pension stipulated in the preceding Article, and shall be paid with the retirement pension. In the event of termination of service by death, this gratuity shall be distributed in full to the pension beneficiaries in proportion to their shares therein; if none of them exists, it shall be paid to the lawful heirs. Part Six Beneficiaries and Commutation Chapter One Beneficiaries of the Insured Person or Pensioner