Starting with July 1, the standard retirement age for women is 59 years and six months, while the full insurance period is 32 years and six months. The men who intend to get an old-age pension should be 63 and should have an insurance period of 34 years. These conditions started to be applied on July 1, 2019, IPN reports, quoting a press release of the National House of Social Insurance.
By meeting the conditions stipulated by law, the women who gave birth and educated up to the age of eight five and more children benefit from a reduction in the standard retirement age. They can retire three years before they reach the standard retirement age. Respectively, from July 1, 2021, this age is 56 years and six months.
In the public pension system, the old-age pension is calculated based on the insurance period accumulated by the applicant and the incomes that represented the calculation basis for the social insurance contributions.
To benefit from an old-age pension, the application and the necessary documents are submitted to the local house of social insurance within 30 days of the day retirement is reached. If an application is filed later, the old-age pension is paid from the date the last necessary document is presented.
