Min­i­mum pen­sion ages set to soar

Work­ers who could have qual­i­fied for early re­tire­ment un­til this sum­mer’s bailout deal have missed the boat

Kathimerini English - - Front Page - BY ROULA SALOUROU

The min­i­mum re­tire­ment age for thou­sands of work­ers who un­til this sum­mer’s third bailout agree­ment could have re­tired with a full or re­duced pen­sion be­fore reach­ing their 67th birth­day will rise by be­tween six months and 17 years up to 2022, ac­cord­ing to a draft min­is­te­rial de­ci­sion seen by Kathimerini.

These new min­i­mum re­tire­ment ages con­cern all those who had been due to re­ceive an oldage pen­sion from the coun­try’s so­cial se­cu­rity funds, in­clud­ing the Bank of Greece, but who had not com­pleted the nec­es­sary pre­req­ui­sites for a full or re­duced pen­sion by the time the third bailout was in­tro­duced.

The min­i­mum ages will now be raised grad­u­ally up to Jan­uary 1, 2022, when all work­ers will only be able to col­lect a pen­sion on or af­ter their 67th birth­day, un­less they have com­pleted 40 years of work, in which case they will qual­ify at the age of 62 at the ear­li­est.

Work­ers will get a new min­i­mum re­tire­ment age depend­ing on the year when they could have re­tired ac­cord­ing to the pre­vi­ous law, un­til ev­ery­one is grad­u­ally on the same level. There­fore, if a worker was sup­posed to start col­lect­ing their pen­sion at 56 in 2018, they will now have to wait un­til their 59th birth­day.

Work­ers who had no set pen­sion­able age re­stric­tions un­der the pre­vi­ous law will now be able to re­tire ac­cord­ing to the tran­si­tional age limit cor­re­spond­ing to their case. There­fore, if they were sup­posed to re­tire af­ter 35 years of ser­vice, they will now also have to wait un­til they are 58 years old.

The min­is­te­rial de­ci­sion, which is ex­pected to be signed in the next few days, will also de­ter­mine the method that will be used to ap­ply the ad­di­tional 10 per­cent penalty on re­duced-pen­sion re­tire­ment cases ow­ing to old age. It will de­ter­mine that the ad­di­tional penalty be cal­cu­lated on the amount of pen­sion due af­ter the cuts al­ready pro­vided, and will be im­posed for the pe­riod un­til the com­ple­tion of the new age of fullpen­sion re­tire­ment which varies by worker.

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