An early retirement is possible two years before the actual pension age. Until 31 December 2013 both women and men could retire early starting from age 60, however, starting from 1 January 2014 the actual pension age is raised by three months each year (reaching 65 years in 1 January 2014), from this it follows that the age for receiving early pension is gradually growing also.
For a person to be eligible for early pension, the length of period of insurance must be minimum 30 years.
There are restrictions for disbursement of early old-age pension until reaching the actual pension age:
- 50% of the granted pension amount shall be disbursed to the unemployed granted an early old-age pension;
- no early old-age pension shall be disbursed to persons who have been granted an early old-age pension, in the period, when they have become a person with mandatory social insurance (employee or self-employed).
- Early old-age pension is granted for life; therefore, the old-age pension shall be the same early old-age pension when reaching the actual pension age and only the disbursement conditions will change.
- After granting an early old-age pension, provision of other services, i.e. unemployment benefit and disability pension, is limited, as well as the amount of the calculated insurance compensation is reduced.