Pension reform – buy back study years system not popular
Saturday, 18 August 2018
The system of “buying back” your study years to increase your pension pot has not been very popular, L’Avenir reported on Saturday. The paper looked at statistics provided by minister Daniel Bacquelaine. On the 1st of June, only 340 workers had signed up to the system. It was introduced at the end of last year.
Since the 1st of December 2017, employees, freelancers and civil servants have been able to buy back their study years so they can be taken into account for their pensions.
Pensions minister Daniel Bacquelaine said 295 employees and 45 civil servants had bought back their completed study years since the measure was introduced. The statistics for freelances are not available yet. In total, 937.75 years study years have been bought back, making it an average of 2.75 years per employee. The state budget has recuperated 1.5 million euros through this system.
Despite this, the minister said around 8,000 people have looked into it so the number could go up. “No doubt some people have submitted applications that haven’t been dealt with or finalised yet”, he said”.