The Decree-Law was approved to extend the regime that allows the early departure of the labor market to people who have started working at the age of 16 or younger than 60 and who are currently at least 60 years old. On the same day that the government approved this decree, it also announced the number of applications for early retirement, made by employees with very long contributing careers, to which social security reacted positively. In ten months there were more than 15 thousand applications, according to the Daily News.
Approximately 11,500 of this number, advanced by the government, were accepted. The difference between 15,000 and 11,500 is related to a law that applies since 2016, stating that a pension application is only effective after the relevant beneficiary has been informed of the amount that will be received to receive monthly and from there confirm the decision the National Pension Center.
The 15 thousand applications for early retirement follow the regime that has been in force since October 2017 access to early retirement without penalty for people with a 48-year discount or who are at least 60 years old, 46 years of discounts and the contributing route have started at 14 years or less.
In order to extend this regime, the government approved the diploma last Thursday (60 years and 46 years off) and who started a contributing career at the age of 16 or earlier.
The difference is therefore in the age at which the person started to give a discount. It is now 16 years old, while 14 years have been defined in the current regime.
This measure will take effect on 1 October and according to Cláudia Joaquim, Secretary of State for Social Security, he will cover between a thousand and two thousand people.
With regard to the budgetary implications of this Decree-Law, it would fluctuate if all possible beneficiaries were to join between four and five million euros per year.