How the pension is calculated
The pension is a per-year accrual rate applied to the valorized average salary across the whole working career.
The assessment base and valorisation
The base for an old-age pension is the insured's own average monthly salary across the whole period of insurance, earliest counted from 1970 (чл. 20). Past years' salaries are valorized — restated at the level of the salaries in the year before the right was acquired — using coefficients the Fund calculates and publishes every year (чл. 33).
The annual valorisation-coefficient series itself was not located in the review of this Act — the Fund publishes it separately, outside the text of the Act, and this site does not state it.
The annual rate — different for men and women
For each full year of pension service, an annual rate of 0,75 % for men, or 0,86 % for women, applies to the assessment base. For a partial year of service of at least six months, the rate is 0,375 % for men, or 0,430 % for women (чл. 34 ст. 1).
| Sex | Per full year of service | Per partial year (6+ months) |
|---|---|---|
| Male | 0,75 % | 0,375 % |
| Female | 0,86 % | 0,430 % |
This applies to insureds first insured from 1 January 2003 onward (чл. 118) — see the scope note on the section's hub page.
The minimum pension — a share by years of service
The minimum pension is not a fixed amount, but a share of North Macedonia's average wage in 2002, tiered by years of pension service — and the tier thresholds differ for men and women, even though the shares themselves are the same (чл. 35 ст. 1).
| Sex | Pension service | Share |
|---|---|---|
| Male | under 25 years | 35 % |
| Male | 25–34 years | 38 % |
| Male | 35 years or more | 41 % |
| Female | under 20 years | 35 % |
| Female | 20–29 years | 38 % |
| Female | 30 years or more | 41 % |
This site does not compute a money figure for the minimum pension: that needs the 2002 average wage in North Macedonia, the baseline чл. 35 ст. 1 names, which was not located in the review of this Act.
Indexation
Pensions are uprated twice a year, in January and July, using a fixed blend of 50 % cost-of-living movement and 50 % average-wage growth — always the same blend, with no condition on which of the two measures is larger (чл. 37 ст. 1).
What this page does not state
No provision was found capping the total years of service the formula counts. A maximum pension does exist in the Act (чл. 230), but its amount is not stated here — see the FAQ for why.