Hence, the need to reduce the
retirement age for this group of workers as well," said Cosalan.
An important component of a change to promote sustainable solvency should be raising the full
retirement age with a provision for additional raises if life expectancy after full
retirement age continues to increase.
It is true that the Government is in the process of equalising the state
retirement age for men and women at age 65 and this will increase to 66 by 2020, 67 by 2028 and 68 thereafter.
Angelov told Darik Radio on Saturday adding that the Defense Minister will be unable to dismiss members of the military with than 27 years of service unless they have reached the specified
retirement age.
The company reportedly caused some resentment from its unions by proposing that the
retirement age should be increased as a way of reducing the deficit.
As an example, if you opt to begin your benefits at 62 and your full
retirement age is 66, you will be drawing your benefit four years--or 48 months--early Your payment would then be about 75% of your full benefit.
Currently, firms can set whatever
retirement age they like, with many people stopping work at 60 or even younger.
8 million people over the state
retirement age are expected to still be working in 2020, according to Saga.
BRIAN Cowen yesterday said the
retirement age will be raised - but not just yet.
But workers below the normal
retirement age will receive 90 per cent of their entitlement, up to a maximum of pounds 28,742.
Justin says: The law on age discrimination was introduced last year and introduced, among other things, a default
retirement age of 65 which is the standard
retirement age unless there is agreement to the contrary.
UNION leaders yesterday announced support for a series of changes to the pensions of workers at telecoms giant BT, including a raised
retirement age and higher contributions.
