Pensions in the United Kingdom

The Labor Ministry is processing a plan for retirees to secure the payment of a temporary auxiliary pension immediately after their application for a main pension has been approved, so as to reduce waiting times and ease the hassle that thousands have to go through upon retirement.

The Labor Ministry intends to correct a considerable distortion of the social security system that has resulted from the introduction of the Katrougalos law. Leading to unreasonably low new pensions, the law is an incentive for undeclared and low-paid employment.

Young workers registering with the new capital-building branch of the auxiliary social security fund (ETEAEP) from 2021 will likely be able to choose at what age - between 60 and 70 years old - they want to receive their auxiliary pensions.

Young workers registering with the new capital-building branch of the auxiliary social security fund (ETEAEP) from 2021 will likely be able to choose at what age - between 60 and 70 years old - they want to receive their auxiliary pensions.

The payment of the new increased pension amounts will actually start on Monday, Labour Minister Marius Budai said in Mamaia on Saturday. "We have recalculated all pensions. The coupons are printed, the first payments to the Romanian Post have been done. Starting Monday, we actually begin the payment of the new pension amounts.

President Klaus Iohannis on Monday signed a decree promulgating the Law on the Public Pension System adopted by the Chamber of Deputies on June 26, in a re-examined form adjusted for a ruling of the Constitutional Court (CCR).

National Liberal Party (PNL) chairman Ludovic Orban said on Wednesday evening that the Liberals support the increase in pensions, but based on a "stable, predictable" mechanism, on "objective elements". "We attacked the Pension Law at the Constitutional Court (CCR) and the CCR proved us right, declaring the Pension Law unconstitutional.

Steps will be taken to ensure that not a single person's pension is lowered by revisions to the pension calculation rules that took effect at the start of 2019, Labour and Social Policy Minister Bisser Petkov said following an extraordinary meeting with Prime Minister Boyko Borrisov on 19th of March, reports BNT. 

Prime Minister Viorica Dancila on Thursday contradicted in the joint plenary session of Parliament a series of accusations in the censure motion text, underscoring that the pension payment was not postponed, but done earlier.

Pension funds will be required to provide estimates of the future amount of retirement benefits. This includes changes to the Social Security Code (CSR), published on the website of the Ministry of Finance. The aim is that the insured persons in voluntary pension funds can better plan their old-age savings.