Retirement age changes - For women, 61 years and 10 months. Seniority at work for men is increasing
As the government has declared that it will undertake a pension reform, with the start of 2025 the retirement age for women will change as well as the years of seniority at work for both sexes, according to the changes that came into force in January 2015.
The reform undertaken 10 years ago provided for a gradual increase in the age and seniority at work, which is directly related to the amount of the pension.
Thus, during this year a woman must be 61 years and 10 months old, in order to fulfill the retirement criteria. With the changes made to the law "On social security", an increase in the retirement age by two months per year is foreseen, becoming 63 years old in 2032. Then the age increase will also start for men, to to be 67 years old in 2056, for both sexes.
But while men are not immediately affected by the increase in the retirement age, they are affected by the increase in years of seniority at work. This means that, if a man should have been 35 years old in December 2014, from January 1, 2025 he should be 38 years and 8 months old.
The same logic applies to women, whose years of seniority at work also increase with age. Referring to the legislation in force, the gradual increase in seniority directly affects the amount of old-age pension, since it is one of the components of the formula for its calculation.
According to the formula, the pension consists of a basic amount, which is equal to the social pension, multiplied by the years of insurance each person has, divided by the years of seniority at work.
Poll

The number of employees reaches a historical record - Germany records the highest figures since unification
In 2024, Germany reached a record 46.1 million employed, up 72,000 from the previous year. This growth was helped by immigrants and higher participation of......

Tourism, Albania the "champion" destination/ Year 2024 hits an indisputable record, the figures show
Tourism has undoubtedly been the headline in the last two years, as month after month it has registered new records breaking all predictions. The official......

How many minutes and internet do Albanians spend? AKEP: Average monthly consumption falls in the third quarter
Albanians spent less internet, outgoing minutes and SMS during the third quarter of 2024. The latest data from the Electronic and Postal Communications......

Floating TECs, waste treatment tender/ High standards of safety and environmental protection
The Albanian Electroenergetic Corporation (KESH) has announced the opening of the tender for the benefit of the hydrocarbon waste evacuation service for the......

The "green light" for the "Blue Corridor" opens/ The government approves the concession contracts for three segments
The Council of Ministers has approved at the last meeting of 2024 the concession contracts / public private partnership for the design, construction,......

Olive and vineyard cadastre is created/ Information on 13 thousand olive grove units in Fier and Berat districts
Albania will have a special cadastre for olive trees and vineyards. In the official report of the Ministry of Agriculture, on the work done during this year,......

Property tax "passes" in 2025/ Calculation based on market value. Currently, only about 797,000 properties are taxed
The government anticipates that in 2025, it will adopt the law on the taxation of real estate based on the market value, a tax which will be applied from......

Difficult start of the year for European consumers/ Experts predict higher gas prices
Gas prices in Europe have risen by around 45% this year, adding to the burden on households and industry as they struggle to recover from the worst......