Retirement age in Romania vs. other EU member states. See the countries in Europe where it is easiest to retire

Sorin Melenciuc 25/04/2018 | 15:48

Retirement age in Romania has increased during the last decade and is projected to increase further, as a consequence of growing funding problems for the public pensions system. But all the European took similar measures in order to cope with the ageing population and longer life expectancy.

Romania has currently a statutory retirement age of 65 years for men and 60 years for women (set to increase to 63 years until 2030).

According to “The 2018 Ageing Report”, published in November 2017 by the European Commission, the highest statutory retirement age in EU was recorded in 2016 in Greece and Sweden (both 67 years, for men and woman alike), Italy (66.6 men and women), France (66.3 years men and women), Portugal (66.2 years men and women) and Finland (66 years men and women).

On the other side of the list, the lowest statutory retirement age are in Slovakia (62 years for men, 60.2 years for women), Malta (62.4 years for men and women) and Latvia (62.8 years for men and women), all the other EU member states having retirement age over 63 years.

All the EU member states have early retirement age systems, mostly for up to five years before the statutory retirement age.

But there are important differences in life expectancies of EU member states – meaning the average period in which a retired person will benefit from its pension.

In Romania, life expectancy at birth was 71.8 years for men and 78.9 years for women in 2016, but life expectancy at 65 years is different: 14.8 years for men and 18.2 years for women.

That means that a man aged 65 retired this year could expect to benefit from his pension for 14.8 years, while a retired woman aged 60 will benefit for 23.2 years, on average.

Romania has special legislation for active military police corps and special public servants within national defense, public order and national security. For these categories, the standard retirement age will increase gradually up to 60 in 2030.

Early retirement pension in Romania can be granted up to five years before the insured person reaches the standard retirement age, provided they completed the full contributory period required by the law and exceeded it with a minimum of eight years.

Partial early retirement pension is granted to the insured persons who completed the full contribution period required by the law and exceeded it with less than eight years.

In case of partial early retirement pension, the quantum is calculated by diminishing the oldage pension benefit by 0.75% for each month of anticipation before complying with the old-age pension requirements.

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