Penalty pension as part of social insurance

Penalty pension as part of social insurance

There are three social security systems
– Basic system
– Supplementary system
– Individual security system
Basic operations (s) are generally mandatory, applicable to all, protecting citizens from illness, disability, pensions, and are guaranteed by the state.
Basic system in Albania.

The social security program in Albania was partly inherited from the past. It was designed to provide comprehensive insurance for seniority, disability, death, short-term illness, ill health, and unemployment based on employee-based contributions. , as well as the employer.
This type of system works well in the context of a high formal labor force participation. However, after the transition, participation in the official labor markets in Albania has fallen sharply, raising the question of whether the social security framework is, in fact, the appropriate structure for securing future social protection benefits for the entire population.

The social security system’s mission is to cover the entire population with social security elements and allocate benefits for retirement, temporary disability, maternity leave, accidents at work and occupational diseases, and supplementary benefits at the time of entitlement and need them.
In the branch of pension insurance, the following is paid:

a) old-age pension;

b) partial retirement pension;

b / 1) reduced the old-age pension;

c) disability pension;

j) partial disability pension;

d) extra care income;

f) additional income for the dependent child;

e) family pensions;

g) payment for death.
What is a retirement pension, its types, and what are the conditions of benefit?

Old Age Pension – Persons who have reached the age of 65, which is 65 years old for men and 60 years for women, and have a minimum of 35 years of insurance, are eligible for a full old-age pension.
According to Law 7703 dated 11.5.1993 on “Social Security of the Republic of Albania,” you can receive the full, reduced, and partial old-age pension.

The old-age pension is fully benefited when:
– You have completed 35 years of insurance
– You have reached the age of retirement pension benefit
– For mothers with more than six children over the age of 8 who have been provided over 30 years old, age is 50
For transition periods, we refer to Article 92 of the same law!
Benefits reduced retirement pension when:
– Have completed 35 years of insurance;
– have reached the age of 62 for men and 57 for women;
– do not carry out economic activities as employees, employers, or self-employed.
Benefits partial retirement pension when:
– – You have completed at least 15 years of insurance insurance
– You have reached old age