There is still the possibility of adjusting the age limits for retirement after 2030, as the ageing of the population and demographic developments are increasingly pressing for the sustainability of the insurance system.
Those who close the 62nd year after 2030 are likely to retire to 63 and half.
Although the government assures that there is no decision taken to increase immediately age limits, Analogue studies and forecasts of international organisations keep the matter in the current state of affairs. It is noted that age limits are currently «lock» in two main categories:
• At 62 years, subject to 40 years of insurance (12,000 stamps).
• At 67 years, at least 15 years of insurance (4,500 stamps).
Sources of the Ministry of Labour say no immediate increase is foreseen, noting that Greece has already moved on to large limit increases in previous periods.
In particular:
• from 1/1/2013 the limits increased to 62 and 67 years,
• with Law 4336/2015 increased and all intermediate age limits.
At the same time, social security experts point out that changes after 2030 will depend on three demographic indicators:
• Elderly dependency index over 65 to the economically active population: it is estimated to move to 60% of 39% today.
• Ageing index: for every 170 elderly persons, 100 persons of working age correspond.
• Fertility index: from 1.3 children in 2018 increased marginally to 1.5 in 2022, remaining lower than 2.1. At the same time, according to a recent study by the Accounting Authority, in 2030 the statutory limits of 62 and 67 years of age are estimated to increase by about 1.5 years.
Who are not concerned?
However, the proposed changes will not affect the following 5 categories of insured persons, which are not at risk of an increase in retirement age. And these are:
1. Insurance persons already entitled to a pension for a reduced or full pension in all Funds based on the age limits applicable from 19/8/2015 to 1/12/2021 and from 1/1/2022 onwards. That is, those who can retire whenever they are not affected.
2. Insurance persons who are retired by disability provisions (child, husband, brother).
3. The special categories of insured persons, such as those belonging to the heavy and unhealthy professions in both the private and public sectors.
4. Uniforms for which the pension conditions are determined by special law.
5. Those who are currently at the age of 57 and are to retire with a full pension in the 62nd year, having completed 40 years of insurance, or with recognition of fictitious years.
Who are they dealing with?
On the contrary, changes in age limits are estimated to concern:
• The insured persons with ages 50 to 55 today, who are 12 to 7 years away to complete the 62 and obtain entitlement to either a reduced pension or a full, if they have 40 years of insurance.
Based on the data so far and the adjustments made to the age limits after 19/8/2015 (Law 4336/2015), insured persons who will not be entitled to pension within the three years 2027, 2028 and 2029 will be burdened with all the increase that will occur.
So those who close the 62nd year after 2030 are likely to retire to 63.6 years if age limits are increased as the studies show.
• The insured persons aged 35 to 50 years, who by retirement will bear 2 to 3 successive increases in age limits.
• The young insured persons who are living their first years of working life and from now on they must be reconciled with the idea that they will receive a pension after 64 and 42 years of insurance, or close to 70 if they have fewer years of working life.
