Increasing the Retirement Age Limit in Greece Is on the Agenda for After 2030
Key Points
- Increasing the retirement age limits after 2030 is on the agenda in Greece due to demographic pressures.
- In the current system, retirement is applied at the age limit of 62 with 40 years (12,000 contribution days) and 67 with 15 years (4,500 contribution days).
- The government argues that there is no urgent decision for an increase; necessary arrangements were made in previous years.
By the Numbers
The aging population and demographic developments in Greece are increasing the pressures on the sustainability of the social security system. For this reason, the possibility of rearranging the retirement age limits after 2030 remains on the agenda.
Currently, retirement age limits are fixed in two main categories. The first includes the condition of retiring at the age of 62 by completing 40 years of insurance period (12,000 contribution days). In the second option, the right to retire is obtained at the age of 67 with at least 15 years of insurance period (4,500 contribution days).
The government states that there is no urgent decision to increase the age limits and that Greece has already made major retirement age increases in previous periods. Despite this, estimates from international organizations and actuarial reports keep the issue current. It is predicted that those who reach the age of 62 after 2030 will be able to retire at the age of 63 and a half if possible changes come into effect.
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Frequently Asked Questions
- What will the retirement age limit be in Greece after 2030?
- After 2030, those who reach the age of 62 are expected to retire at the age of 63 and a half with possible new regulations.
- What are the current retirement age limits and premium conditions?
- You can retire at the age of 62 with 40 years of insurance (12,000 contribution days) or at the age of 67 with at least 15 years (4,500 contribution days).
- Has a definitive decision been made to increase the retirement age?
- No, the government states that no urgent increase decision has been taken; however, international reports keep the issue on the agenda.
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