Parliament finally voted in the long-awaited pension reform, in early October. The law increases effective retirement age (higher requirement of years in service before being vested in a pension), leaving the headline pension age unchanged at age 60.
It also envisages immediate pension rises from October. The IMF had concerns over some points of the reform, like the increase in pensions in October, and a second-tier pension system. But in general the approved law should be close to what the IMF was requesting. More about recent tendencies you can read in our new report “Advances: Pensions & Eurobonds”.
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