Since 2021, the Pensionable Age has been set at Age 65.
Notwithstanding the Pensionable Age, provisions have been made whereby persons, who wish to do so, can opt to receive their Age Pension earlier than Age 65. In that regard, age 60 shall remain the age at which Age Pensions first become payable, but at a reduced rate of 0.5% per month for every full month prior to the Age 65.
Please note that with effect from 2012, and consequent upon amendments to the Social Security legislation, the Pensionable Age (i.e. the age at which an Insured Person becomes eligible for an Age Pension from the DSS) increased incrementally by six (6) months every year – until the year 2021, when the Pensionable Age reached Age 65. Against that background, the Pension Age Computation Chart details eligibility for full Age Pension consequent to the incremental increase in Pension Age from 2012.
Pensionable Age Computation Chart
Year Of Birth |
Month Of Birth (Month Range) |
Retirement Year |
Retirement Age |
1952 |
January – June |
2012 |
60 1/2 |
|
July – December |
2013 |
61 |
1953 |
January – June |
2014 |
61 1/2 |
|
July – December |
2015 |
62 |
1954 |
January – June |
2016 |
62 1/2 |
|
July to December |
2017 |
63 |
1955 |
January – June |
2018 |
63 1/2 |
|
July – December |
2019 |
64 |
1956 |
January – June |
2020 |
64 1/2 |
|
July – December |
2021 |
65 |
After 1956 |
|
|
65 |
(N.B. 1/2 year = 6 Months)