When you are ageing
Labour market subsidy is payable to unemployed jobseekers until the statutory old-age retirement age, but the basic and earnings-related unemployment allowances can usually be paid only for a specific maximum period of time.
Unemployed persons born before 1950 who satisfy the work requirement can be paid unemployment allowance for additional days and seek a pension once payment of the allowance has ended.
Ageing unemployed persons who satisfy the work requirement are eligible for additional days of unemployment allowance and can take advantage of a kind of unemployment path to retirement. The additional days are only available to recipients of unemployment allowance for employees and not for entrepreneurs or self-employed persons.
You are eligible for additional days of basic unemployment allowance if you were born
- between 1950 and 1954 and have thus reached the age of 59 years
- in 1955 or 1956 and have reached the age of 60 years
- in or after 1957 and have reached the age of 61 years before reaching the 500-day limit on payment.
You must also have completed at least 5 years of employment during the previous 20 years. The extended payment of basic unemployment allowance will continue at the most until the end of the calendar month in which you reach the age of 65.