Lowering the retirement age will cost Poland PLN 10 bln next year

According to the deputy minister of finance Leszek Skiba, lowering the retirement age will cost the budget as much as PLN 10 billion, which equals 0.5 percentage point of GDP. But according to Skiba this should not affect public finances. “The current expenditure rule allows us to gradually lower the deficit, while leaving us with PLN 30 billion to spend. Fiscal regulations are still respected and the Law and Justice (PiS) government can fulfill its campaign promises.

Back in December last year, Poland lowered the retirement age to 60 for women and 65 for men, from the previous 67 for both sexes.

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