The prevailing scenarios for changes in retirement age limits.
The focus of the public debate is once again on the possibility of readjustment of age limits retirement after 2030, as ageing the population and demographic developments are increasingly pressing for the sustainability of the insurance system. Although the government assures that there is no decision taken to increase age limits immediately, the actuarial studies and forecasts of international organisations keep the issue in the news.
The current insurance framework currently provides for two main routes to the pension: full pension at 62 years with 40 years of insurance or 67 years with at least 15 years of insurance. These limits remain unchanged from the latest major reforms, but legislation provides that at regular intervals the evolution of life expectancy is considered to assess whether new adjustments are needed.
According to the prevailing scenarios, since demographic trends continue, general age limits could gradually increase from 2030 onwards. This increase is estimated to reach a total of about a year and a half over the years, but without being implemented abruptly. On the contrary, a step-up model is being considered so that insured persons have sufficient time to adapt to the new conditions.
The pressure comes mainly from demographic developments. The increase in life expectancy means that pensions are paid for more than a few years, while underageness limits the number of new workers entering the labour market and funding the insurance system through their contributions. At the same time, the proportion of older people to the economically active population is steadily increasing, which is even more burdening the long-term balance of the system.
This information has already generated strong mobility among insured persons. Many workers consider applying for retirement before 2030 to ensure that they leave at present age limits. The increased flow of applications to the insurance institution is largely attributed to the uncertainty about future changes.
Today we have most new retirement applications (110,298) of the corresponding semesters of all previous years, at least since 2017 (EPKA establishment).
Who are protected?
If the growth trend follows the same pace, by the end of 2026 more than 260,000 applications may have been lodged. It is recalled that 225,803 pension applications were filed in 2025, which was also the largest in the EPCA's chronicles.
However, not all insured persons are affected by a possible new scheme. First of all, those who have already established a pension right are protected, either for a full or for a reduced pension. The establishment of the right shall guarantee the conditions of exit applicable at the time of completion of the required conditions and these insured persons may exercise their right even at a later time.
In addition to possible changes, insured persons who retire under special provisions due to the existence of a disabled member in the family, as well as those who are in the heavy and unhealthy professions, where special retirement conditions are applied due to the nature of their work. Accordingly, special arrangements continue to apply to uniforms whose pension conditions are determined by specific legislative provisions.
On the other hand, the situation for the younger insured persons and those who have not yet fulfilled the conditions of entitlement. These categories are more likely to be affected by possible changes that will be implemented in the coming years, if the age limits are decided to link with the evolution of life expectancy.
In any case, no final decision has been taken to increase retirement age limits to date. The issue remains under assessment and any decisions will depend on the updated demographics, actuarial studies and budgetary capabilities of the insurance system.
Examples of what age are affected
-A worker aged 58 in 2030, who has not yet completed the pension conditions, is likely to be subject to the new age limits if they enter into force.
– On the contrary, an insured person aged 61 in 2030, who has already established a pension entitlement under the applicable provisions, is not expected to be affected and will be able to leave with the limits he has guaranteed.
– Younger workers, now 35-45 years old, are considered the most likely to be affected by any future changes, as their retirement time is set well after 2030.
