The retirement age in Moldova will be equalized in four years. From 2028, both men and women will be entitled to retire at 63. Currently, women retire at 60 years and 6 months and the retirement age increases by six months annually. From July 1, 2024, women will retire at the age of 61, IPN reports.
The law to equalize the retirement age was adopted in 2021, on the initiative of Dan Perciun, then chairman of the parliamentary commission for social protection, health and family. The lawmakers invoked the demographic indicators in Moldova, which showed that the number of people aged over 60 has continuously increased. Reference was also made to the fact that a number of European states started the process of equalizing the retirement ages for women and men and subsequently increasing the retirement ages, including up to 65 years in the Czech Republic, France, Greece, Lithuania, Hungary, Malta, Austria, and Romania, 67 years in Denmark, Germany, the Netherlands, and Spain, 68 years in Ireland, Finland and the UK.
The full contributory period for men is 34 years. In the case of women, until June 30 this year, the full contributory period is 33 years and 6 months, while from July 1 will be equal to that of men and will be 34 years.
For persons who do not have a full contributory period, an incomplete pension is calculated and the size of this is proportional to the number of years of service. Persons who have a contributory period shorter than 15 years are not entitled to a pension, but can get an allowance for the elderly, which represents 50% of the minimum old-age pension.
The right to early retirement for long career is granted to persons who completed a contributory period by five years for men and three years for women longer than that provided by law. Thus, from July, regardless of age, men will be entitled to early retirement for long career if they have a full contributory period of 39 years, while women – if they have a full contributory period of 37 years.
From January 1, 2024, persons can request a pension review if they continued to work after the old-age pension was set/reviewed. From January 1, 2024, disability pensions set before January 1, 2022 are also reviewed, provided that the persons completed a contributory period of two years to seven years.
As of April 1, 2023, the minimum old-age pension with a full contributory period is 2,620 lei. The next indexation of pensions will take place in April. The authorities announced that the pensions are to be indexed by 4.2%.
