More Polish OAPs face debt after new retirement rules: warning

As of 1 October, women in Poland will be able to retire at 60, and men at 65. This is after Poland’s ruling conservatives reversed a 2012 reform by the previous government that would have ultimately increased the retirement age to 67 for both sexes.

Poland’s National Debt Register said: “Lowering the retirement age from 1 October 2017 may mean an increase in the number of pensioners in debt and in their debt levels.”

Elżbieta Rafalska, Poland’s family, labour and social policy minister, has voiced hope that many Poles will decide to defer their retirement and stay active professionally despite the new rules.

Over 238,000 Polish pensioners listed in the National Debt Register owe a combined PLN 3.2 billion (EUR 747 million, USD 888 million.)

The reasons for pensioners falling into debt in Poland have remained unchanged for years: a reduced income after retirement and families asking OAPs to take out loans on their behalf.

(pk)

Source: IAR