Moldovans who have retired or about to retire from the current year will continue to work, may benefit of the recalculation of pensions. The recalculation will be done every two years.
The provision came into force starting with April 1st.
According to the Ministry of Labor, citizens who have reached retirement age as of January 1, 2017, but will continue to work and pay taxes, may request recalculation of pension.
Under the new reforms, retirees may request recalculation of pensions every two years. They will submit the file to the National Social Security at their residence.
If the recalculated pension will be lower than originally scheduled, the person will receive the higher allowance.
Those who have retired until January 1st, 2017 will not benefit of the new provision.
From April 1st, pensions will increased by 6.8 percent. The new formula for calculating pensions, which provides the increasing of allocations by up to 45 percent.