Moldovan official journal roundup for 30 December
10:35 | 29.12.2016 Category: Social
Chisinau, 29 December /MOLDPRES/- The law on pension reform will be published in the Official Journal of Moldova on 30 December.
The document sets a new formula for calculating pensions that will ensure the interdependence between social insurance contributions and pension amount. Also, the law provides for leveling the retirement age and length of service of women to men. Thus, women and men will retire at the age of 63 years, and the contribution period will be equalized and will be 34 years.
Another provision of the law is related to include in the length of employment the non-contributory period for parent who has cared for a child with severe disability under the age of 18 years, person who has been resident in postgraduate education and people who worked as judge and prosecutor until 31 December 2005. To calculate and set disability pensions, it will be applied valuing insured income in calculation formula and changing the contribution period, as follows: 23 years – 2 years, 23-29 years – 4 years, 29-33 years – 7 years, 33-37 years – 10 years, 37-41 years – 13 years, over 41 years – 15 years.
At the same time, the document sees a new way of setting the minimum pension in relation to the minimum guaranteed monthly income. Under the new formula, the minimum pension for agricultural workers will be equaled to the one of citizens employed in the national economy. Presently, the minimum pension of agricultural workers is 844.71 lei, and of workers in national economy - 948.84 lei.
The new law also sees calculation of pensions, thus the retirees who work or have worked after exercising the right to pension may request reconsideration of pension once every two years, provided that the calculated pension is higher than the one in payment.
The law on pension reform will enter into force on 1 January 2017.
(Reporter P. Beregoi, editor L. Alcază)