It is a pension paid on a monthly basis to the insured employee who is covered under the Social Insurance Law and at the same time has reached the legal age and completed the contribution period that qualifies for this type of pension.
- The male insured has reached the age of sixty and his insurance service period is (15) actual years.
- The female insured has reached the age of fifty-five years and her insurance service period is (10) actual years.
- The insured does not receive another pension from any other government unit.
3%x av. gross salary of the last five years x number of full-year contributions under the insurance scheme.
- True copy of the document indicating the bank account number.