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Home NATIONALGovt proposes lifting retirement age to 70
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Fri, 18 Dec, 2015 01:34:45 AM
FTimes- STT Report, Dec 18

The government has proposed increasing the retirement age of municipality and government officials from 68 years to 70.

The raise of retirement age is linked to the legislative amendment to the occupational pension scheme in which the minimum retirement age will gradually rise from 63 years to 65.

The accumulated retirement age, according to the proposal, will gradually rise from 68 years to 70.

A similar change has been adopted in the Employment Contracts Act legislative amendment.

According to the proposal, the retirement age would be 68 years for those born in or before 1957, 69 years for those born in 1958-1961, and 70 years for those born in 1962 and afterwards.

The law is scheduled to enter force in April, 2016.

 

 
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