Title: New Social Security Reforms Offer Pathway to Pension Eligibility Through Service History Purchase
In a significant move to bolster social welfare, new regulations have been announced that allow insured individuals to purchase missing periods in their social security insurance history. This initiative is designed to help citizens, particularly those nearing retirement, meet the necessary criteria for receiving a pension by compensating for coverage gaps.
Expanding Eligibility: What Periods Can Be Purchased?
The reformed system introduces several key avenues for individuals to complete their insurance records:
- Military Service Credit: Men who have completed mandatory military service can now purchase that period to count towards their total insurance history, significantly impacting pension calculations.
- Covering Employment Gaps: Individuals can buy insurance for months of unemployment, informal employment, or periods where an employer failed to register them. This is particularly vital for casual workers, the self-employed, and homemakers.
- Voluntary Insurance Purchase: Those who have worked for years without formal insurance coverage can now opt for voluntary insurance, selecting a base salary upon which contributions are calculated.
Calculating the Cost
The financial mechanism for purchasing this history is based on a clear formula. The cost is calculated as follows:
Selected Base Salary × 27% × Number of Days
For example, with a chosen base salary, the monthly contribution would be a corresponding amount. The total cost is directly proportional to the number of months being purchased and the selected salary level. This 27% rate encompasses contributions for both pension and healthcare benefits.
Who Benefits from the New Rules?
The reforms specifically target several groups:
- Individuals with less than 15 years of insurance history who have reached the age of 62 can now purchase the missing years to become eligible for retirement.
- All men who have completed military service.
- Insured persons with incomplete records or months lacking coverage.
- Self-employed individuals and those previously engaged in informal work without insurance.
Streamlined Application Process
To facilitate access, the Social Security Organization has simplified the application process. Eligible individuals can apply either:
- In-Person: By visiting local social security offices with the required identification documents.
- Online: Through the organization’s electronic services portal, where applicants can register their request, see the calculated amount, and complete the payment entirely online, reducing the need for physical visits.
These comprehensive measures underscore the ongoing efforts to enhance the social safety net and provide flexible solutions for citizens to secure their retirement futures.