09.01.2023

WHAT ARE THE CONDITIONS FOR RETIREMENT IN 2023?

The Ministry of Labor and Social Policy recalls on its Facebook page that from January 1, 2023. the conditions for receiving a pension for full insurance service and age are changed.

In order to acquire the right to a pension for length of service and age from 1 January 2023, insured persons must have reached the minimum retirement age and a certain length of service.

The department points out that this year men in our country will be able to retire at the age of 64 years and 6 months and 39 years and 4 months of service, and women at the age of 62 years and 36 years and 4 months of service.

  The Ministry of Labor and Social Policy also reminds what the conditions are for 1 year early retirement. For men, respectively - age 63 years and 7 months and 39 years and 6 months of service and for women - age 61 years and 2 months and 36 years and 6 months of service.

For every month missing from the general retirement age, the pension is reduced for life by 0.4%, the Ministry of Labor and Social Policy further specifies.

The right to a pension is not extinguished by statute of limitations. Persons who in the previous year fulfilled the conditions for acquiring the right to a pension for length of service and age will be able to retire at any subsequent moment under the conditions already fulfilled and in the following years, regardless of whether there are changes in the conditions for retirement. The receipt of a pension is extinguished with the expiration of a 3-year statute of limitations, starting from January 1 of the year following the year to which it relates.

The foreseen smooth increase and gradual equalization of the retirement age for retirement under the general rules (under Article 68, paragraph 1 of the Social Security Code) (for both women and men) should end at the age of 65 and for both sexes in 2037. After that, the age under Art. 68, para. 1 of the Social Security Code will be linked to the increase in average life expectancy (on the basis of Article 68, Paragraph 5 of the Social Security Code).

The required insurance length of service for retirement (under Article 68, paragraph 2 of the Social Insurance Code) for those working under the conditions of the third labor category also increases by two months per year for women and men until reaching 37 years in 2037 for women and 40 years for men.