Regulatory Alerts2021-06-15
Added · Updated
Ordinance No. 69 of 15.06.2021 on the formulas for calculating lifelong pensions under Art. 167, para. 4 and Art. 245b, para. 1 of the Social Security Code
The Financial Supervision Commission adopted Ordinance No. 69, which defines the formulas for calculating additional lifelong old-age pensions, personal lifelong old-age pensions, and lifelong survivor's pensions under the Social Security Code. The ordinance specifies distinct formulas for pensions without additional conditions, those with a guaranteed payment period, and those involving deferred payment of funds until a chosen age. This regulation has been significantly amended by Ordinance No. 70, effective January 1, 2027, which updated its title, repealed Article 2, revised Article 3, and modified the legal basis for its issuance.
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