Pensions

How is the pension calculated?

The principle that the whole life is counted is fundamental to the pension system. The system is financed through contributions.

You and your employer pay pension contributions to the general pension system. The total contribution is 18.5 per cent of your pensionable income. 16 per cent goes to the income pension and 2.5 per cent goes to the premium pension. The 18.5 per cent gives you what are referred to as pension entitlements. The pensionable income comprises: 

  •  Wages/salary
  • Sickness benefit and rehabilitation allowance 
  •  Parental benefit 
  • Unemployment benefit 
  • State contributions to unemployed persons when they start their own enterprise
  • Various study grants
  • Sickness or activity compensation