North Macedonia considers law to purchase pension service

The North Macedonian government is considering a new law that would allow citizens to purchase up to two years of pension service. According to Minister of Social Policy, Demography and Youth Gjoko Velkovski, individuals who have reached the required retirement age but lack the minimum 15 years of service can pay the necessary contributions to qualify for a pension.

The proposed measure applies specifically to those who have completed at least 13 years of service and are no longer active participants in the labor market. The law targets individuals aged 62 to 64 who are short of the legal minimum.

To calculate the required payments, the contribution will be based on half of the average net salary from the previous year. For example, if the average net salary was 45,000 denars, the 19.9 percent contribution would be calculated based on 22,500 denars for each missing month, up to a maximum of 24 months.