Cabinet to extend retirement age to 63

The Council of Ministers adopted Wednesday a proposal submitted by the Ministry of Finance to extend the retirement ceiling for civil servants to the 63rd year of age.

Speaking after the cabinet meeting, Finance Minister Makis Keravnos said the new regulation would come into effect in July and there would be a gradual transition to the 63rd year of age.

Keravnos said he would give further details after discussing the issue with the social partners. The biggest objection was expected from the civil servants’ trade union and the left union PEO, that had accepted a compromise to introduce a staggered implementation of the plan.

The next step will be to submit a proposal to the Council of Ministers to amend current relevant legislation. (CNA)