Albania raises retirement age as pension reforms take effect

Women in Albania will need to work longer to retire this year as the government raises the retirement age under reforms designed to equalize pensions by 2056.

Tirana, January 5, 2025 – Women in Albania now face a retirement age of 61 years and 8 months, following gradual reforms aimed at equalizing retirement ages for men and women by 2056.

Under the updated rules, women need an additional two months of work experience compared to 2024, when the retirement age was 61 years and 6 months, with a requirement of 38 years of contributions. This year, they must meet 38 years and 2 months of contributions to qualify for retirement.

Men’s retirement age remains fixed at 65 and will stay unchanged for the next nine years. However, the contribution period for a full pension has increased to 38 years and 4 months, up from 38 years last year.

The reforms, introduced in 2014, aim to modernize Albania’s social insurance system and address challenges posed by an aging population. By 2056, the retirement age for men and women will align at 67, reflecting broader trends across Europe to prolong working lives amid rising life expectancy.

Currently, the average monthly pension in Albania stands at 19,000 leks (€190), with around 723,000 individuals receiving payments. Official data indicates that approximately 15,000 workers leave the labor market each year under the current system.

The reforms aim to address the financial strain on Albania’s pension system, driven by an aging population and increasing life expectancy.