The women and men in Moldova will retire at the age of 63. The minimum length of service required before retiring will be 34 years in both of the cases. The Cabinet approved the relevant proposals submitted by MPs in the debates on the draft law on the pension system reform in the first reading, IPN reports.
The bill on the pension system reform, endorsed by the Cabinet last week and transmitted to Parliament for consideration, envisioned the gradual rise in the retirement age for women from 57 to 62 and for men from 62 to 65, by six month annually until 2026. The Ministry of Labor, Social Protection and Family explained that the rise is necessary given the aging of the population and because the number of pensioners increases faster than that of employed persons. The minimum length of service was to increase for women from 30 to 33 and for men from 33 to 36.
A number of MPs said both the gradual rise in the retirement age and that in the minimum length of service required before retiring are impossible as life expectancy in Moldova is lower than in many European states. According to the National Bureau of Statistics, in 2015 this was 67.5 years for men and 75.5 years for women.
