Retirement age rises to 66 years and two months in 2016 – Express

Retirement age rises to 66 years and two months in 2016 – Express

The retirement age will rise to 66 years and two months in 2016, according to a published ordinance on Friday. It is applied the new sustainability factor, which reflects the demographic change and the life expectancy.

Earlier this year, the government changed the rules for calculating this factor of sustainability, now be calculated based on the ratio between the average life expectancy at age 65 in 2000 (then the reference was 2006) and the average life expectancy in the year preceding the application of the reform.

This change has boosted the sustainability factor and the penalty applied to early retirement and brought up the age reform for 66 years this year and in 2015.

class="newsp"> For beneficiaries in accessing pension before of age 66, the notice published in the Official Gazette states that the factor of sustainability of old age pensions of the general social security scheme granted in 2015 is 0.8698.

The law also fixed at 0.9383 the factor of sustainability of relative incapacity and invalidity pensions absolute assigned for a period not exceeding 20 years, turned into old-age pension in 2015

.