New legislation equalising pensionable age ‘significant step forward’, says GGCA

The Gibraltar General and Clerical Association has welcomed new legislation equalising the State Old Age Pension system, describing the changes as a significant step towards fairness for workers.

The union said the reforms complete the equalisation of the pensionable age for men and women, a change it has long campaigned for.

Under the new legislation, the pensionable age for men has been reduced from 65 to 60 years, bringing it into line with that of women. The contribution requirements have also been amended to reflect the earlier retirement age.

The number of paid or credited contributions required to qualify for a full State Old Age Pension has been reduced from 2,250 to 2,000.

The minimum qualifying requirement for a reduced State Old Age Pension has been lowered from 585 to 520 contributions.

The method used to calculate pensions has also been equalised, with contributions now assessed over a 40-year period instead of 45 years for men.

“These changes represent a significant step towards fairness and equality and ensure that men and women are now treated on the same basis in respect of both pensionable age and the contribution requirements needed to qualify for a State pension,” the GGCA said.

“The GGCA is proud to have consistently championed this reform and welcomes its implementation. This is a tangible example of what can be achieved through determined advocacy, constructive engagement and a steadfast commitment to improving the rights and conditions of workers.”

“We thank our members for their continued support and reaffirm our commitment to pursuing further improvements on behalf of all employees.”

“The union also thanked its members for their continued support and said it remained committed to pursuing further improvements on behalf of employees.”