Monday , September 20 2021

The retirement age changes again: 2020-06-12. Retirement pension before the age of sixty – how much will be the minimum retirement pension?



It’s time for the presidential proposal to go to the Sejm. What are the chances of that? The starting point for the presidential project is simple: you have worked for 35 years, you have worked for 40 years – you retire whenever you want, regardless of age. It is important that you have paid your pension contribution to ZUS compulsorily or voluntarily for so many years. The latest grant has been received, you have reached 35 or 40 years of service, you can apply for your pension. If this regulation entered into force before 1 March 2021, the minimum old-age pension would probably amount to PLN 1,560.

We are still waiting for the President to turn his promise into a draft bill that will go to the Sejm and be sent quickly. As time went on and there was no draft, a final social draft of the Pensions Act was prepared and sent to the President along with a petition on this issue. Everyone is waiting for President Andrzej Duda to hand it over to Sejm as his project.

Switching to the so-called internship pension would be a privilege that would be voluntary. Since the size of the old-age pension still depends on the accumulated capital, anyone who wants a higher pension should not only look at their age but also the capital accumulated by the contributions, on the basis of which ZUS calculates the amount of its monthly pension. Each additional month of work, not to mention years, is a higher pension – not only because the employee’s pension account will receive additional contributions, but also because ZUS will divide the accumulated money by a smaller number of months of the man or woman’s hypothetical age depending on the pension amount. from current mortality tables.

The government has just been reconstructed. The changed composition of the Council of Ministers will, among other things, work with next year’s budget, and one of the issues that is important for ordinary people and dependent on the form of the budget is pension rules, including final liquidation of open pension funds the pension system and such there may be an introduction by the Department of Internship Pensions.

Such a solution is now considered a complement to the current pension system. At present, as we know, in order to retire – in addition to, for example, uniformed services – you must be at least 60 years old for a woman, 65 years old for a man.

At present, in the case of workers at an early stage, the period of service is closer to fifty years than just forty years.

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The author is President Andrzej Duda, who is supported by the trade union “Solidaritet”, but adds his own condition – the capital accumulated in the pensioner’s account must enable payment of the pension of at least 120 percent. the lowest pension currently in force.

Minimum pension: 120 percent of the minimum old-age pension

This is due to the fear that the money collected from the pension contributions for people who retire before the age of 60 will be small and therefore the pension will be a penny.
Low pensions from ZUS are the main reason why solutions are still being sought that would constitute a new pension law and improve the financial situation, especially for people who receive the lowest pensions. Meanwhile, public finances do not allow for an increase in government budget pensions. COVID questions the payment of those already promised and enrolled in almost thirteenth pensions and fourteenth pensions – the law, but it is not known if there will be enough money in the budget next year to fund such social programs and their suspension is increasingly being considered.

Pensions 2021: many unknown

In addition, the only thing is not unknown – the work of liquidating OFE has not been completed yet, the money from which according to the law originally adopted by the Sejm would be transferred to private individuals’ pension accounts already in June this year.

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It is known how much the indexation of pensions will be from March 2021 – 3.84 percent. it is part of the draft budget law presented by the government. Was it not for inflation at the 3-4 percent level. It would look good, but in practice there are many key prices in the pensioner’s portfolio, e.g. energy, garbage collection and other housing-related charges, not to mention drugs – they rise much higher than inflation and planned indexation levels.

It is also not known whether it is possible to find money to raise the minimum pensions above the index, which was the case in recent years. At present, the minimum pension is 1200 PLN. G.If promised, it would be possible to increase it by a further 100 PLN from 1 March, it would be PLN 1,300.

Old-age pensions 2021 – at least 1,560 PLN

If we returned to the new project with seniority pensions, if they were in force today, the minimum old-age pension for a woman who worked for 35 years would now be PLN 1 440, as for a man who worked for 40 years, regardless of age.

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On the other hand, if the minimum old-age pension were raised to PLN 1 300 from 1 March 2021, the minimum old-age pensions would be PLN 1,560 (after fulfilling the condition of 35 years of service for women and 40 years for men).

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