Velkovski: Citizens With 13 Years of Work History Can Buy Back Two More for a Pension, About 150,000 Denars
The social policy minister announced a bill — the pension amount depends on past wages, not on the buy-back payment.
Minister of Social Policy, Demography and Youth Goko Velkovski announced a bill under which citizens who are up to two years short of the statutory 15-year minimum work record would be able to buy back the missing period themselves and qualify for an old-age pension. The proposal is already in government procedure.
Only people with at least 13 years of actual work history, who have reached retirement age — 62 for women, 64 for men — and are no longer active in the labour market would be eligible.
"Depending on what they had in those 13 years, the formula will follow from that — how much was saved, what salary they were registered on, and so on," Velkovski explained on MRT 1's "360 Degrees" programme, stressing that the eventual pension amount would not depend on the sum paid for the bought-back years, but on the standard legal formula based on lifetime earnings.
Based on available estimates, the monthly contribution for the buy-back is about 6,000 denars, with the maximum two-year buy-back costing roughly 150,000 denars. Contributions are calculated on half of the previous year's average salary.
Velkovski separately rejected speculation that the second pension pillar is being prepared for abolition or nationalisation. The exact conditions and formula will be set in the final legislation, which has not yet been adopted.
MKNews Hub · Macedonia · September 17, 2026