On Friday June 03, the government adopted a draft law set out in the government agreement. This makes no less than five the number of draft laws and royal decrees set to change a whole ranges of aspects of the country’s pension system including the State pension age, conditions for early retirement, and raising the minimum age for the survivor’s pension in the three pension regimes. Nonetheless the Christian CSC union fiercely criticizes both the reform and the means used to bring it about.
Pension system overhaul. The draft law raises State pension age from its current 65 to 66 by 2025 and 67 by 2030 in an effort to make the system financially viable over both the medium and long terms. The government is also extending the eligibility age for early retirement from 62.5 in 2017 to 63 in 2018. The number of contribution years (called the ‘career condition’) needed to qualify will rise from 40 years currently to 41 years in 2017 and to 42 years in 2019. As regards exceptions made fo
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