Were published amendments to the Retirement Statute and created the New Early Retirement Scheme

This decree-law reviews the early retirement scheme of the General Pension Fund’s (CGA) subscribers, bringing it closer to the general social security scheme.

The main news are the followings:

Convergent Social Security Scheme’s Beneficiaries

Retirement for long contributive career 

The beneficiaries of General Pension Fund’s (CGA) with, at least 60 years old and who reach the personal retirement age may apply for retirement.

In situations identical to the ones of the general social security scheme, each employee is allowed to, according to his effective length of service, adjust his retirement age.

Contributory periods in other social security schemes

Contributory periods in other social protection schemes could be taken into account for the purposes of:

• Fulfilment of warranty period;

• Retirement conditions;

• Bonus rate determination;

• Establish the minimum pension.

Early Retirement

May apply for early retirement, regardless of submission to the medical board, and without prejudice to the application of the unified pension scheme, the beneficiaries who are at least 60 years old and:

• Complete at least 40 years of effective service.

However, a reduction rate of 0, 5% it will be applicable for each month until retirement age.

Personal retirement age extension

In situations identical to the ones of the general social security scheme, each employee is allowed to, according to his effective length of service, adjust his retirement age.

Effects

This decree-law takes effect from 1 October 2019.