Pension agreement with Italy formalized: Benefits begin in July

23 Qershor 2024, 21:59Society TEMA

Pension agreement with Italy formalized: Benefits begin in July

June 23, 2024 - Starting this July, Albanian migrants residing in Italy are set to benefit from a new pension agreement between the two nations. The accord, officially ratified and published in Italy's official gazette, ensures that the Italian state will recognize and factor in social contributions made by Albanian migrants towards their pensions.

Signed in February by the Foreign Ministers of Albania and Italy, the agreement extends beyond old-age pensions to include disability benefits, family pensions, sickness insurance, maternity, and unemployment support. Under the terms, Albanian migrants nearing retirement age can now apply through Italy's Social Insurance Institute.

Approximately 500,000 Albanians currently living and working in Italy, alongside Italian citizens who have long-term residence in Albania, are expected to benefit from this reciprocal pension recognition. The initiative prevents the loss of contribution years and allows individuals to receive pensions from both countries based on their respective work histories.

For instance, a person who has worked 10 years in Albania and 15 years in Italy can qualify for pensions from both countries, leveraging their contributions effectively. The Italian government has allocated a fund of 136 million euros to implement these pension recognitions up until 2032.

This bilateral agreement marks a significant step towards ensuring fair pension entitlements for cross-border workers and residents between Albania and Italy, benefiting a large number of individuals across both nations.

Lini një Përgjigje