
While the government has declared that it will undertake a pension reform, starting in 2025, the retirement age for women will change, as well as the years of seniority for both genders, according to changes that came into effect in January 2015.
The reform undertaken 10 years ago envisaged a gradual increase in age and seniority in work, which is directly related to the pension amount.
Thus, this year a woman must be 61 years and 10 months old in order to meet the retirement criteria. With the amendments made to the law "On Social Security", an increase in the retirement age by two months per year is foreseen, reaching 63 years old in 2032. Then the age increase will also begin for men, reaching 67 years old in 2056, for both sexes.
But while men are not immediately affected by the increase in retirement age, they are affected by the increase in years of seniority in the workforce. This means that if a man, in December 2014, had 35 years of seniority, by January 1, 2025 he would have 38 years and 8 months.
The same logic applies to women, whose years of seniority increase in parallel with age. Referring to the legislation in force, the gradual increase in seniority directly affects the amount of the old-age pension, since it is one of the components of the formula for its calculation.
According to the formula, the pension consists of a basic amount, which is equal to the social pension, multiplied by the years of insurance each person has, divided by the years of seniority at work./scantv