Retirement

Prime Minister Ludovic Orban said that, through the decision regarding special pensions, the Constitutional Court of Romania (CCR) showed that "it doesn't want justice to exist in the retirement system." "Through this decision, the Constitutional Court showed that it doesn't want justice to exist in the retirement system, that it seeks to maintain a privileged system of calculating pensions for

The actuarial study that came with the social security bill voted into law this week points to the likelihood that the age of retirement will be gradually raised to 72 years, starting in 2024, when the threshold will come to 68 years.

Thousands of workers will have the right in 2020 to retire as early as the age of 55 year, that is 12 years before the general age of retirement.

Prime Minister Ludovic Orban said Monday that the draft budget for next year provides for the amounts needed to increase pensions from September 1, according to the pension law, but also for salary increases, provided for in the law of unitary pay.

In 2018, employment rates for men and women aged 55 to 64 years were higher, at 65% for men and 52% for women, than the average rates for all adult men and women (60% and 48%) in the European Union (EU), Eurostat data show.

Just four in every 10 Greeks (41.1 percent) aged from 55 to 64 years are active in the labor market, with the employment rate of men and women in this age group being the second lowest in the European Union, behind Luxembourg, according to statistics for 2018 released on Monday by Eurostat.

Greece's top administrative court on Friday rejected as unfounded an appeal by two Muslim religious leaders from northern Greece against their compulsory retirement last year.

More than 310,000 pension applications to the main pension fund (EFKA) and the auxiliary pension fund (ETEAEP) remain pending, while the total number of outstanding cases regarding pension issues adds up to over 1 million, Labor Minister Yiannis Vroutsis said on Tuesday.

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.

Ten years after Greece became aware of its deep financial crisis, one of the main causes, mass early retirements that overburdened the pension system, still have not been completely eliminated.