Labor Ministry issues circulars on age of retirement

The Ministry of Labor has issued three circulars in relation to the gradual increase of the age of retirement, which ranges from 6…

The Ministry of Labor has issued three circulars in relation to the gradual increase of the age of retirement, which ranges from 6 months to 17 years in certain cases. As of 2019 the age of retirement for all pension funds will be the age of 67 or 62 with 40 years of insurance contributions.

For professionals of the ETAA pension fund (such as doctors, lawyers and mechanics), in cases where there is no age of retirement, the age of 58 is introduced as of 18/8/2015, provided there have been 35 years of insurance. In other cases the age of retirement is 55 years olf.

For the self-employed of OAEE to receive a reduced retirement due to age, the circulars clarify that the pensioner must be 62 years and have 15 years of insurance.

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Helios Kiosk