Senate to debate pension reform next week

The Senate will vote next week on the government’s pension reform bill which aims to reduce the growing deficit in the pension system. Under the proposal, the retirement age will gradually increase by one month a year over the age of 65 after 2030 and will be capped at 67. About 15,000 people employed in high risk professions will be able to retire early without losing money. The original proposal was for the high-risk professions to encompass more than 127,000 people but that was abandoned in favour of a slower increase in the retirement age. Among the professions that will be able to retire early are foundry workers, welders, grinders and metallurgists.

Although some senators from the ruling parties have voiced reservations to certain aspects of the reform, it is expected to pass smoothly through the upper chamber thanks to ruling coalition’s majority in the Senate.