December 19, 2016 / 3:52 PM / 2 years ago

Moldovan MPs approve IMF-backed retirement age increase

CHISINAU (Reuters) - Moldovan MPs on Monday approved raising the retirement age to 63 years from the current level of 57 for women and 62 for men, a reform that is part of a three-year-old assistance program agreed with the International Monetary Fund.

The retirement age will be lifted gradually by a few months every year until coming fully into effect in 2028.

Life expectancy in the ex-Soviet country — Europe’s poorest — is 67.5 years for men and 75.5 years for women. In a country with a population of 3.5 million, of which 1 million are abroad, there are more than 700,000 pensioners.

Reporting by Alexander Tanas; editing by Alexei Kalmykov and Matthias Williams

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