Decree Law No. 119/2018
- Issuer: Presidency of the Council of Ministers
- Diploma Type: Decree Law
- Number: 119/2018
- Pages: 5947 - 5951
Summary in plain english
This decree-law amends the rules regarding the legal framework of protection in the case of disability or old age in the general social security scheme.
It establishes the new flexibilization scheme regarding the age of access to the old-age pension.
The flexibilization of the age of access to the old-age pension consists of the right to request the pension at a age lower or higher than the current normal age of access to the old-age pension.What is going to change?
The beneficiaries who are at least 60 years old and, at this age, have at least 40 years of contributions may request the old-age pension in advance.
It is not possible to access the pension before being 60 years old.
The person age of access to the old-age pension is established, which results from the reduction of the age of access to the pension in four months for each career year above 40.
The sustainability factor is eliminated from the calculation of the pensions of the flexibilization scheme of the old-age pension’s age.
In such cases, the pensioners are not penalized again.
The sustainability factor is a value established by the State based on the average lifespan to calculate the age at which the citizens may retire.
Those who cannot access the old-age pension through this new scheme may do so through the current scheme on 31 December 2018.
Whenever the beneficiary has access to at least two different schemes, the one applied must be the most favourable (most favourable treatment principle).
The flexibilization scheme of the old-age pension’s age is reassessed within five years.What advantages does it bring?
This decree-law aims to value the contributory careers and make the system fairer and more transparent.
It ensures the pensioners’ tranquillity and trust.When does it enter into force?
This decree-law takes effect from 1 January 2019.
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