Retirement age to increase by six months for women in Moldova

Chisinau, 1 July /MOLDPRES/ - The standard retirement age for women is of 59 years and six months and the full retirement contributions up to date is of 32 years and six months. As for men, the retirement age remains the same, 63 years, and retirement contributions up to date are of 34 years.   
According to data by the National Social Insurances House (CNAS), the new rules see that reductions in the standard retirement age will be given to women who gave birth and educated five and more children up to the age of 8 years. They can retire three years before the standard retirement age, respectively, at 56 years and six months.
In the public pensions system, the quantum of the old age pension is calculated based on the retirement contributions up to date, made during the labour activity of the applicant and of the incomes which represented the calculation base for the social insurances contributions.   
To benefit from pension starting the date of reaching the retirement age, the application and the needed acts are submitted to the Territorial Social Insurances House from the residence place in a 30-day period. If the application for retirement is submitted by exceeding the term of 30 days, the old age  pension will be provided starting the date when the last necessary act is presented.  
photo: CNAS