Portugal: Early-retirement penalty for long-serving workers to go in August

Page created: Thursday, 13 April 2017 9:08 GMT

António Costa  Early retirement  penalty  Pensions

Lisbon, Apr. 12 (Lusa) – Portugal’s prime minister, António Costa, announced on Wednesday that the Socialist government is to implement a one-off increase in pensions in August and eliminate penalties for those who retire at 60 and who began working at 14.

These measures to boost pensions and for the “protection” of those who have contributed to social security for an especially long period were announced by Costa in parliament during the fortnightly debate, in a speech focussing on social policy and in which he quoted the former Communist activist Soeiro Pereira Gomes.

“It is also with these people in mind that this parliament approved the extraordinary update in pensions that we shall put into effect as soon as August,” he said.

“It is to offer justice to these men and women that we are defining new conditions fro access to early retirement, in line with the government’s programme and in permanent dialogue with the majority in parliament and social partners,” he added, in a reference to the leftist parties that provide the minority government with its support base and to trade unions and employers.

Of the elimination of penalties for those who have worked since 14, Costa said this was about “righting the injustice that was worsened in recent years, with the double penalising effect of the increase in the retirement age and the worsening of the sustainability factor that rose from 5.4% to 12.3%,” he said, in a criticism of the previous, right-of-centre government’s change to the formula by which the official retirement age has been raised to take account of rising life expectancy.



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