Albanian Women work harder to enjoy the retirement

Albanian Women work harder to enjoy the retirement

 The World Bank has classified Albania among the first countries in the world where women retire at an old age. Albanian women retire at the age of 65, meanwhile Belgium leads the world rankings where women retire at the age of 70.

Albania ranked 22nd among the 174 countries surveyed.

The World Bank Global Women's Report shows that late women's retirement is a characteristic of developed countries and is directly linked to longevity. While looking at places where women retire under the age of 60 are poor such as Nigeria and Kiribati where women retire 50 years of age.

The World Bank has averaged the age of retiring of Albanian women. By 2015, Albanian women retired at the age 60, but implementing a new reform in the pension system has gradually increasing the retirement age for women by two months each year, to reach 63 old in 2032.

Since 2032, the retirement age for men will increase by one month per year and for women two months a year, reaching 67 for both sexes in 2056.

As a result of many factors, life expectancy is growing at an average rate of over one month per year. In this growth, life expectancy in women is higher than the life expectancy of men. Currently, in Albania, the average enjoyment time for both sexes is 21.4 years, 19.2 years for men and 24.2 years for women. So, the enjoyment of retirement for women is five years older than men, for two main reasons: the higher life expectancy of women than men and the earlier retirement.

Most European countries have equal treatment in terms of retirement age for both sexes. 

The government expects that the gradual retirement age growth for women will naturally impact on reducing retirement spendings and avoiding the current discrimination with men.

Albania today has a new population, but long-term projections show that there will be an aging population in the future. The increase in the share of the population over the retirement age to the total population is accompanied by a decline in the share of the working age population.

This aging population will also bring an increase in the dependency coefficient of the elderly, which from 23% in 2012 will increase to 41% in 2030. Then the growth rate will gradually increase to 56.8% in 2055 and gets the highest value, 68.9%, in 2080. The number of retirees to the total population will gradually increase from 19.1% in 2012 to 28.3% in 2040.

The system dependency ratio, which expresses the ratio between contributors and beneficiaries, will increase from about 86 pensioners per 100 contributors currently to about 120 pensioners per 100 contributors in 2032. This is due to the faster growth of number of pensioners than contributors.
Albanian Women work harder to enjoy the retirement Albanian Women work harder to enjoy the retirement Tuesday, April 10, 2018 Rating: 5
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