If an individual continues to work after reaching the official retirement age and refrains from claiming their pension for up to 60 months (5 years), their pension will increase by 0.5% for each full month of additional insurance experience.
For those who postpone retirement for more than five years, the increase will be 0.75% for each additional month.
The impact of delaying retirement can be significant. For instance, postponing retirement by one year boosts the pension by 6%, two years by 12%, five years by 36%, and a full decade of delay can result in a 72% increase in pension.
To take advantage of this opportunity, an individual must submit an application to the Pension Fund before reaching retirement age.