The required retirement age for retirement is equal for both sexes this year and amounts to 40 years of pensionable service without a purchased period. Women will have to be 59 years old and eight months old and men 60 years old. In 2018, the most favourable consecutive 24-year insurance will be considered for the calculation of the pension base.

According to the pension law, 40 years of pensionable service without a purchase means 40 years in which the person was compulsorily included in compulsory pension and disability insurance.

Women will also be able to retire this year at the age of 64 years and with a minimum of 20 years of retirement age and at the age of 65 and with a minimum of 15 years of insurance period, the Pension and Disability Insurance Institute (ZPIZ) reported.

Men will be able to retire if they are 65 and have at least 15 years of insurance.

You can also be retired at a lower age

In some cases, the right to an old-age pension can be obtained at a lower age, namely, for the care of the child, the compulsory military service and for entering the compulsory pension and disability insurance before the age of 18 years.

The pension payment is 29 percent of the pension base for women, and 26 percent for men with minimum 15 years of pension insurance. There is additional 1.38 percent for women and 1.25 percent for men with each additional year of pension insurance.

General Conditions

An insured person is entitled to an old-age pension upon reaching the prescribed age if they completed insurance periods, pension qualifying periods, or pension qualifying periods without purchase as stipulated by the law. For pension entitlement qualification both conditions have to be met cumulatively; the latter differing in the transitional period as to the gender:

The following three possibilities are prescribed by the law:

For women:

Age Pension Qualifying Period
59 years and 8 months 40 years without purchased periods
64 years at least 20 years
65 years at least 15 years of insurance periods

 

For men:

Age Pension Qualifying Period
60 years 40 years without purchased periods
65 years at least 15 years of insurance periods

 

Pension qualifying period without purchase is periods of compulsory membership in the compulsory pension and disability insurance scheme and periods of pursuing agricultural activity without purchased pension qualifying periods (periods of child care during the first year of a child in which a parent was not covered by the insurance, a membership in the voluntary compulsory insurance scheme, etc. do not count).

Insured persons

Insured persons are persons covered by the pension and disability insurance scheme under the Pension and Disability Insurance Act on compulsory or voluntary basis.

Compulsory Insurance

Compulsory pension and disability scheme is uniform for all insured persons and obligatory for all who meet the prescribed legal conditions.

Voluntary Insurance

Apart from compulsory membership in pension and disability insurance scheme, a person can, subject to certain conditions, also join the compulsory insurance scheme on a voluntary basis.

Effects of Compulsory and Voluntary Insurance

The data on persons covered by the compulsory and voluntary insurance scheme is recorded in the Register of the Insured Persons. It is provided by the persons liable thereto, as stipulated by the law. For the time of insurance membership liable persons shall pay defined contributions for the insured. If contributions have been paid, the periods covered by the insurance count towards pension qualifying periods, the insurance bases from which contributions have been paid determine a pension basis for the calculation of entitlements.

Insurance in case of an injury at work and occupational disease

Insurance for injury at work and occupational disease is a specific type of insurance. Contributions are paid for the contingencies as a lump sum or at a specific contribution rate pursuant to the Decision determining contributions for specific insurance cases. Insurance periods completed under this insurance are not considered as pension qualifying periods.  A person pursuing work or activity not subject to compulsory insurance can, in case of an injury at work or occupational disease, qualify for a disability pension, or in the case of death of an insured person their survivors can be entitled to a widow-er’s or survivor’s pension in the same amount as if the contingency occurred under compulsory insurance. Besides an insurance case, a precondition for qualification is paid contributions.

Source: zpiz.si (Photo: Bojan Velikonja https://www.dnevnik.si/)