•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
From 2026, monthly pension benefits will be calculated under Article 66 of the Social Insurance Law 2024, with a key change to the minimum contribution requirement. The minimum contribution period has been shortened to 15 years, meaning workers need only 15 years of social insurance contributions to qualify for a monthly pension.
Under the new rules, the pension is linked to the number of contribution years and the average wage.
Workers who retire early can still receive pension benefits, but the pension amount is reduced. Under Clause 3 of Article 66, the monthly pension for early retirees is first calculated using the general formula and then reduced based on how early retirement occurs:
As an illustration, retiring 10 years early could reduce the pension by up to 20%. For example, if the general formula would produce a pension equal to 60% of the average wage, the deduction could bring it to about 40%.
The rules are designed to support fairness between workers who retire at the standard age and those who retire early, while also encouraging workers to extend their working years to increase pension benefits in old age.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
