Government considers possibility of introducing “pension for long career”

The model of pension for a long career that will exclude the old-age limit can be instituted in Moldova. The PAS government said that this possibility is considered so as to enable all those who want to work to do this, regardless of age. According to economic experts, the PAS government does not have another solution than to review the law that lowers the age limit for maintaining the sustainability of the system, IPN reports.

PAS MPs said that they haven’t yet decided what the fate of the law to lower that retirement age as from January 1, 2022, which was adopted in 2020, will be. They noted that a number of options are now being considered, including the offering of the possibility of working without imposing an age limit.

“We want to create an alternative for those who have an insurance period longer than the full insurance period so that there is no retirement age in general. If a person pays contributions during a particular period of time, they should be able to retire, regardless of age. We called this measure pension for a long career, which is a model used in France. We will do the calculations and determine what insurance period is sufficiently long to ensure the sustainability of the system so that we can also recognize the right to retire earlier of those who worked a long period of time,” PAS MP Dan Perciun stated in the program “Emphasis on Today” on TVR Moldova channel.

Experts consider the economic and demographic realities in the Republic of Moldova make the rulers tale a decision about the law that lowers the retirement age. The lowering of the retirement age means massive subsidization of the pension fund from the state budget, but the Republic of Moldova cannot do this now.

“If the retirement age is not increased gradually, there is no other way out. The retirement age in the developed countries is higher. The politicians will have to review this law. Furthermore, it is very important to increase the population’s confidence so that the people know that they will not be robed after they contribute to the pension system and the pension they will get will be correct. If the citizens trust the pension system, the wish to retire earlier will didapper,” said economic expert Viorel Gârbu.

Last December, the then PSRM-Șor tacit parliamentary majority adopted a law to lower the retirement age. If it is not repealed or reviewed, the law will take effect on January 1, 2022 and women will retire at the age of 57, while men at the age of 62.

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