site.btaExperts Suggest Equalizing Retirement Age for Men, Women in 2028 or 2036

Experts Suggest Equalizing Retirement Age for Men, Women in 2028 or 2036


Sofia, October 21 (BTA) - As of 2015, the retirement age is to
increase by four months until reaching 63 years for women in
2021 and 65 years for men in 2018. The requisite contributory
length of service for retirement is to increase by four months
as well, until reaching 40 years for men and 37 years for women.
This is a proposal for increasing the retirement age put
forward by the advisory board on the social security system with
the Labour and Social Policy Ministry and made public on
Tuesday.

Labour and Social Policy Minister Yordan Hristoskov presented
the proposals of the advisory board on streamlining the social
security system.

Another proposal, which is new, is to equalize the retirement
age for men and women at 65 years in 2036, and introducing an
automatic mechanism after that depending on the projected life
expectancy.

Yet another proposal is to equalize the retirement age for men
and women in 2028, followed by the introduction of an automatic
mechanism. In this option, the increase of the retirement age
for women will be phased in by two months annually until 2016,
and in 2017 to 2027, by four months annual. For men, this will
be by two months more annually until 2016, and after that, by
one month per year.

One more proposal is to equalize the retirement age depending on
the year of birth, followed by the introduction of an automatic
mechanism.

In respect of the contributory length of service, one suggestion
is to keep the increase of four months as of the start of each
calendar year until reaching 40 years for men and 37 years for
women. Another proposal is to have the same pace of increase in
both the retirement age and the contributory length of service
until reaching 40 years for men and 37 years for women.