Main contributory pension

This is the 2nd part of the main pension. It is called contributory because it depends on the main pension contributions paid by a person in the course of their work life. The rules for calculating the contributory pension is a little complicated because it incorporates incentives for people to remain longer in the workforce but the redistributive nature of the pension remains a key factor. Those who have contributed more over longer periods receive proportionately more.

Persons with twice the salary, pay double the contributions and are entitled to a contributory pension that is twice as high.

Persons with twice as many years of insurance pay double the contributions and are entitled to more than double the contributory pension. The contributory pension is more than double due to the incentives provided for extending people's work life.

In order for a person to be entitled to a main pension they must have at least 15 years of insurance and meet the appropriate age limits.