To access old-age pension: Years of contributions increased from 10 to 20 in Mozambique – A Verdade

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To access old-age pension: Years of contributions increased from 10 to 20 in Mozambique – A Verdade

12:50 CAT | 16 Jan 2018

Entitlement to an old-age pension in Mozambique has become more difficult, A Verdade reports.

Regulations in force until two weeks ago laid down 120 months (10 years) as the necessary minimum time of contributions to the INSS. Now [with the new regulation in force], “a beneficiary who is 55 years old, for a woman, or 60 years, for a man, is entitled to an old-age pension as long as she/he has paid 240 months’ contributions[editor’s note: 20 years contributing],” states number 1, article 29 of Decree 51/2017 of 9 October.

Decreto 51/2017, de 9 de Outubro
For workers wishing to draw an old-age pensions before reaching the minimum age defined by law, the new regulation states that they must have “completed 420 months (35 years) of contributions”, as against the previous 300 months (25 years).

While the new regulation, approved at the 30th Session of the Council of Ministers in 2017, reduces the basis of calculation of old-age pension from 120 to 60 months, it also increases the average monthly reference remuneration from 50 to 100 percent. (Decree 51/2017 of 9 October).

Decreto 51/2017, de 9 de Outubro

On the other hand, it introduces a reduced pension, equal to half of the old-age pension, for workers who have not contributed 240 months to the INSS, “provided they have at least 120 months of contributions.”
The new provisions also increase the minimum pension from 60 to 90 per cent of the lowest national minimum wage, and in Article 32 introduces the possibility of paying missing contributions in order to access a pension.

Decreto 51/2017, de 9 de Outubro

Also Read: Maternity leave increased to 90 days, but INSS will only pay for 60 – A Verdade

Source: A Verdade