Confirmed: the Social Security Will Cut to 17% the Pension to Those Who Advance Their Retirement Even if They Have Contributed More than 41 Years

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August not only brings vacations, warmth and doubts about the date of collection of pensions. This year also comes with an important novelty for a part of retirees. At a time when many people reach retirement age with good health, accumulated experience and desire or need to stay active, the system incorporates a new formula to reconcile pension and work in certain cases.

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Persons who worked before 1 April 2001 and contributed to the Supplementary Pension Fund may benefit from an increase in the pension score. The provision is maintained by Article 143 of Law No 360/2023 and is part of the transitional provisions of the new legislation.

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Social Security maintains the reducing coefficients that penalize those who decide to advance their retirement.Not even having paid contributions for more than 41 years guarantees to get rid of the cut, since if the worker decides to retire two years before the ordinary age, the reduction of the pension can reach 17%.The ordinary retirement age remains at 65 years, but only for those who have contributed 38 years and 3 months or more.Those who d…