Government approves uncut early retirement at 60 years of age with 40 years of service – Jornal Económico

Civil servants will only be able to retire without cuts in their pension from the age of 60 or with 40 years of work, the government approved today in the Council of Ministers. The sustainability factor predicted a 14.5% cut in early civil service reforms.

The end of the cut thus had its final approval today after it was generally approved for public consultation and the social partners on June 27.

In general, for public consultation and the social partners, the new age-flexibility scheme for pension access under the convergent scheme was approved.
The aim is to apply to the beneficiaries of Caixa Geral de Aposentações a scheme equivalent to that already approved under the general scheme of Social Security, thus complying with the provisions of the State Budget Law 2019.

The revision of the Caixa Geral de Aposentações (CGA) subscribers' early retirement scheme “enables CGA subscribers to enjoy the same conditions of access to retirement as beneficiaries of the general social security scheme, contributing to a more equitable, fair and transparent".

“The main change is that the Retirement Statute now gives early retirement access to beneficiaries who are at least 60 years old and who, at that age, complete at least 40 years of effective service without application of the sustainability factor, under conditions similar to those of the general social security scheme, ”according to the statement.

“With the new conditions of access to retirement, the concept of personal retirement age is also introduced, allowing, in situations identical to those of the general social security scheme, that each worker can, depending on his or her actual length of service, adjust retirement age, ”according to the Council of Ministers.

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