Standard retirement age for men to be 63 years in Moldova as of 2022

Chisinau, 6 December /MOLDPRES/ - The parliament, at a today’s plenary meeting, adopted the amendments to the law on the public system of pensions, in the second reading. Thus, starting from 1 January 2022, the standard retirement age for men will be of 63 years and the full length of pensionable service – 34 years.  

Under the document, for women, the retirement age of 63 years will enter into force beginning with 1 January 2028 and the full length of pensionable service of 34 years will enter into force as of 1 July 2024.  

The draft also sees the right to benefit from an anticipated pension for a long length of pensionable service, for the people with a longer length of pensionable service by five years for men and three years for women, against the one provided for in the law.   

Another regulation refers to the revision of the formula of the pensions’ indexation. The indexation will be made once per year on 1 April. Also, the draft sees a coefficient of pensions’ increase, worth 50 per cent of the real economic growth for the previous year, which will also be provided on 1 April, in fixed sum.

At the same time, the way the minimum pension is established will be revised. The quantum of the minimum pension will be set annually by the government and its value is to be at least equal to the one from the year before.