Decree Law No. 73/2018
- Issuer: Presidency of the Council of Ministers
- Diploma Type: Decree Law
- Number: 73/2018
- Pages: 4788 - 4789
Summary in plain english
This decree-law establishes new rules for early retirement with no penalties to the pensions’ amount of 60 years old workers, workers with 46 or more years of contributions and those who have started to contribute on a very young age, that is, with 16 years old or less.
Therefore, it changes:
- some rules of the law on retirement on a convergent scheme, that is, the scheme of beneficiaries the Public Employees' Pension System
- some rules of the law on protection in case of invalidity and old-age on the general social security scheme.
It is now possible to anticipate the old-age pension, without penalty on the pensions’ amount, of beneficiaries from the general social security scheme and from the convergent scheme, who comply with these conditions:
- have started to contribute at 16 years old or younger
- be, at least, 60 years old
- have contributed for, at least, 46 years.
The period of contributions of an individual on other social protection schemes shall be taken into consideration to:
- the minimum period of contributions necessary to request the pension
- define the amount of the pension to receive and the discounts or the bonus to be applied
- the access conditions to the early old-age pension or with a bonus
- the access conditions to the early old-age pension in case of involuntary or long-term unemployment.
As other social protection schemes are considered the ones ensuring protection in case of invalidity or old-age, which are:
- general and special social security schemes
- retirement or pension funds schemes
- social security schemes of the banking sector
- foreign or international social security schemes.
This decree-law aims to validate the workers who have been contributing for many years and those who have started to contribute at a very young age, allowing them to retire with no penalties.When does it enter into force?
This decree-law enters into force five days after its publication and takes effect from 1 October 2018.
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