Minimum pension to be raised to PLN 1,000 in 2017, new retirement age

The lowest pension rate is to be statutorily raised to "not less than PLN 1,000," said Labor Minister Elżbieta Rafalska. Presently, the minimum amount is PLN 882,56. At the end of June the project was presented to the Council of Social Dialogue, and is supposed to enter into force in October 2017. Meanwhile, the government has positively rated the new project of lowering the retirement age down to 60 years old for women and 65 for men. It is to be passed this year. The government spokesman, Rafał Bochenek, said those new ideas can be financed from a surplus of capital raised from tightening tax gaps, mainly VAT, at PLN 4 billion.