CHAPTER THREE: PAYMENT OF OLD - AGE, DISABILITY AND DEATH PENSIONS - Article 20
Last updated 09/23/2021 13:58 PM
The pension shall be calculated monthly on the basis of 60 % of the salary of pension
calculation for the subscription periods included in the insurance reaching fifteen
years. Such percentage shall increase by 2 % for every additional year and up to
a maximum of 100 % of the salary of pension calculation. Should the service
period exceed thirty five years, the insured shall be granted benefit for the additional
year amounting to the salary of three months for every year of the salary of pension
calculation category. With regards to the insured in the private sector, the
last salary of pension calculation shall not be more or less than 20 % of the average
salary of subscription calculation in the four preceding years or the actual subscription
period, whichever is less.