Retirement age of 63 and 58, minimum service of 15 years: draft pension reform decree published for discussion

The retirement age is proposed to rise to 63 for men and 58 for women, and the minimum length of service to 15 years. This is still only a draft presidential decree “On measures to ensure the welfare of the population and reform the pension system”; no final decision has been taken. The Ministry of Economy and Finance published it for public discussion on 15 September 2026, and the discussion runs until 30 September.

Retirement age and service

The draft proposes to:

• Raise the retirement age by three months every year from 1 January 2028, reaching 63 for men and 58 for women by 2039 (currently 60 and 55)
• Increase the minimum length of service for an old-age pension by one year annually from 2027, from 7 to 15 years by 2034
• Keep the right to an old-age allowance five years after reaching retirement age for those who lack the required service
• Gradually extend the earnings period used to calculate pensions to 20 years, excluding the 10% of the period with the lowest income

Guarantees before retirement

• Employers would be barred from dismissing a worker or refusing to hire them solely because of pre-retirement age
• Registered unemployed persons would keep the option of retiring two years early
• Benefits for those in underground, hazardous and heavy work would remain

Individual savings accounts

Funds in individual savings accounts could be withdrawn from age 60 for men and 55 for women. They remain personal property and can be inherited.

What this means in practice.

• Check now which length of service and earnings are recorded by the Pension Fund: these will determine eligibility for a pension and its amount
• Comments on the draft can be submitted during the public discussion until 30 September

Photo: Adam Jones, Wikimedia Commons (CC BY-SA 2.0)