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MOLDOVAN PARLIAMENT APPROVES NEW SCHEDULE OF PENSION RECALCULATION FOR WORKING PENSIONERS

09 december, 2019

On Friday, the Moldovan Parliament adopted legislative amendments thus approving a new schedule of a phased recalculation of old-age pensions for those citizens who continued to work officially after reaching the retirement age as well as those who are still working.

According to the amendments, the process of recalculation of pensions, which were accrued before January 1, 2019, must be fully accomplished in the year 2022 and not in 2027, as was initially projected by the previous schedule.

According to the new schedule, from July 1, 2020 the government will begin recalculating pensions to citizens, who had worked for more than 15 years after reaching the retirement age.

On January 1, 2021 pension recalculation will be started for citizens who had worked for 10 to 15 years upon reaching the pension age.

On July 1, 2021 - for those who had worked 5 to10 years, and from January 1, 2022 - 2 to 5 years.

The amendments authors believe that these changes are absolutely necessary for ensuring justice at accruing pensions for those who continue working already being pensioners and, accordingly, who continue to make contributions to the Pension Fund.

According to official data, there are 700.6 thousand old-age pensioners in Moldova, of whom 162.5 thousand are continuing to work and pay taxes.

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