Manjani noted that the European Union’s primary directive requires the standardization of retirement ages for men and women, establishing the age limit at 67 years, with implementation expected before 2056.

“The last reform of the social security scheme was implemented a decade ago. Demographic shifts and changes in the labor market necessitated the adoption of a new reform, which is now being aligned with EU requirements. This reform is already underway and is being discussed with experts from the World Bank and the EU to ensure we obtain the highest level of expertise in restructuring the scheme. In this context, the EU has its own expectations regarding how it envisions the pension system reform,” she stated.

In the context of pension reform, Manjani emphasized that they have requested a transitional period from the EU. According to her, this is a frequently adopted practice.

She informed that MEKI is still in the discussion phase regarding the duration of the transition period related to the equalization of retirement ages between men and women.

“We have historically maintained a five-year gap in the retirement age between men and women. Prior to the reform that came into effect in 2015, the retirement age was 55 for men and 50 for women. We subsequently increased it to 65 for men and 60 for women,” stated Manjani.

According to her, the EU’s requirement is that upon full membership, there must be an equalization of retirement ages between men and women.

“We are gradually increasing the retirement age by two months each year. Currently, women retire at 61 years and two months, while men, who previously retired at 65, are expected to reach an equal retirement age of 67 by 2056. However, the EU has requested that this transitional period be shortened, meaning the equalization should occur before 2056. This timeframe is still under negotiation to determine the exact duration of the transition period,” she stated.

“If the equalization of the retirement age is scheduled to take effect by 2040 or 2045, it will be necessary to incorporate this adjustment into our legislative framework. This entails implementing a relatively accelerated increase for women, considering their current lower retirement age, while ensuring a more gradual transition for men. A critical requirement is that, by the time we achieve full EU membership, a consensus on the transitional period must be established, after which the retirement age shall be uniformly applied,” she stated.. /j.p/sm/