Result achieved
Outcome summary
The Social Security Office defined a roadmap in 2019 to increase the contributory ceiling and retirement age what contributes to the pension fund sustainability.
Outcome achieved
Following the recommendation of the Actuarial Study and discussions within the tripartite board, the Social Security Office (SSO) defined a roadmap in 2019 to increase the contributory ceiling and retirement age what contributes to the pension fund sustainability.
ILO's contribution to the outcome
The ILO conducted an Actuarial Study in 2015 and provided technical assistance during the discussions. The report was presented in 2016 and further discussions took place in 2017 and 2018, including new calculations. More recently, through the Project “SSO Actuarial Unit) the ILO has been providing additional technical assistance through the peer review of calculations
Gender equality & non-discrimination
Increasing in retirement age will contribute to equalize benefits between men and women. The planned social protection diagnosis will include a specific gender impact analysis.