Become a member

Who can be a member?

The policy holders who join the mandatory pension and disability insurance fund for the first time after 01 January 2019, and on the date of accession they are under 40 years of age, are obliged to join and pay contributions to a mandatory pension fund of their choice as long as they have the capacity of a policy holder in a mandatory pension and disability insurance fund.

The Pension and Disability Insurance Fund of North Macedonia from the date of accession temporarily distributes these policy holders to the mandatory pension and disability insurance fund.

The policy holders are obliged to join the mandatory pension fund within 3 months from the date of accession to the mandatory pension and disability insurance fund, by signing a membership contract with an agent of the pension company that manages the selected mandatory pension fund.

Upon expiry of this deadline, the policy holders who shall not sign a membership contract, become permanent members of the mandatory pension fund which they were temporarily distributed to.

The policy holders who, during the period of insurance, receive the status of a policy holder as an individual farmer, the individuals registered as self-employed persons performing retail on stands and markets, cease to be members of the second pillar.

The policy holders who get reduced service years for retirement and the policy holders described in Chapter VII of the Law on Pension and Disability Insurance* are not included in the second pillar, if they have reduced service years for retirement which allows lowering the age limit for gaining the right to an old age pension for at least 1 year.

A member who has gained reduced service years for retirement which allows lowering the age limit for gaining the right to an old age pension for at least 1 year, can chose to continue the membership in the 2-nd pension pillar by means of a written statement for continuing the membership in the mandatory pension fund for a period of 3 months calculated from the gaining of reduced service years for retirement. On the contrary, after this deadline the membership in the mandatory pension fund ceases and the funds from the individual account are transferred to the Pension and Disability Insurance Fund of North Macedonia.

*policy holders from Chapter IIV of the Law on Pension and Disability Insurance are: policy holders from the field of defense, policy holders from the Ministry of Interior and from detention and rehabilitation centers and education-rehabilitation institutions, policy holders from the Intelligence Agency and the Operative-Technical Agency, policy holders from the National Security.

The policy holders who are employed or self-employed as full-time employees and who have been granted exemption from payment of contributions for the mandatory social insurance, under the Law on Employment and Insurance in Case of Unemployment, are not mandatory members of the second pension pillar during the period for which the exemption from the payment of contributions for mandatory social insurance was established.

Clarification of the categories of policy holders transferred to the Pension and Disability Insurance Fund of North Macedonia in compliance with the Law Amending the Law on Mandatory Fully Funded Pension Insurance (Official Gazette of the Republic of Macedonia No. 245/2018)

The membership in the mandatory pension fund of the policy holder born prior to 01.01.1967 and employed for the first time since 01.01.2003, terminates on 01 January 2019, and pursuant to the Law their funds shall be transferred to the Pension and Disability Insurance Fund of North Macedonia, and the policy holders remain members only in the currently funded pension insurance based on generational solidarity.

The persons born before 01 January 1967, and employed before 01.01.2003 have the right to choose whether to terminate or continue their membership in the second pension pillar by filling out a statement through an authorized person from the Company or the Agency for Supervision of Fully Funded Pension Insurance – MAPAS no later than 30 September 2019. If they do not decide until then, their membership in the mandatory pension fund ceases as of 30 September 2019, and the funds are transferred to the Pension and Disability Insurance Fund of the Republic of North Macedonia.

How to become a member?

Membership in KB First Open Mandatory Pension Fund – Skopje requires a quick, easy and simple procedure.

Take your opportunity to choose a Mandatory Pension Fund and become a member of KB First Open Mandatory Pension Fund – Skopje by concluding a Membership Agreement with any authorized agent of KB First Pension Company.

You can become a member of KB First Open Mandatory Pension Fund – Skopje by signing a Membership Agreement with an authorized agent of KB First Pension Company.

All persons belonging to one of the categories of persons entitled to signing a Membership Agreement can do this in one of the following ways:

• Call the number 02/ 32 43 772 or 02/ 32 43 777 and ask us to send you an agent to the location and at the time that best suit you;
• Fill in an online application and within the shortest possible time, you will be contacted by a person of KB First Pension Company;
• Visit the office premises of KB First Pension Company AD Skopje. (Mitropolit Teodosij Gologanov no.6, 1000 Skopje);
• Go to the outlets of KB First Pension Company AD Skopje.

Your safety

Safety of the assets of members of KB First Open Mandatory Pension Fund – Skopje operated by KB First Pension Company, as part of the reformed pension system is guaranteed from several aspects:

1. The expertise, experience, size and reputation of the founders of KB First Pension Company managing your funds give you additional security and safety regarding Company’s successful operation in the management of funds.
   • Komercijalna Banka AD Skopje with its long-term successful operation and leading position in the banking system of the Republic of North Macedonia has been confirmed by multiple international awards from financial institutions and magazines.
   • Prva pokojninska druzba d.d. Ljubljana, reorganized into Skupina Prva zavarovalniski holding d.d. Ljubljana on 6.November 2007, has a multi-year direct pension insurance experience and is expanding its operations in the mandatory and voluntary pension insurance in Southeast Europe.
2. Professional management of your assets – for the purpose of their safety and yield. Your funds are managed by a highly professional, skilled and experienced team, investing them in safe financial instruments in accordance with legal regulations, thus enabling security of and yield on funds invested.
3. Investment of your funds in accordance with strict regulations in order to maximize yield, only for the benefit of members and retired members, and through diversification and financial analysis to minimize the risk of losses. Assets of KB First Open Mandatory Pension Fund – Skopje are invested under the continuous supervision of the Agency for Supervision of Fully Funded Pension Insurance – MAPAS, while the Custodian Bank keeps them separate from the assets of the Company.
4. Under the law, assets of KB First Open Mandatory Pension Fund – Skopje may not be used in a settlement or bankruptcy procedure of the Company, nor pledged, assigned or transferred for the benefit of third parties, except in cases strictly laid down by law.
5. State guarantee from the State Budget of North Macedonia in the amount of up to 80% of the funds on members’ accounts in the event of fraud, theft or embezzlement.
6. Agency for Supervision of Fully Funded Pension Insurance – MAPAS was established for the purpose of supervising the operations of both companies managing pension funds and pension funds, with the aim to protect the interests of their members. Also, MAPAS supervises the work of Custodian Banks and foreign managers and monitors their financial statements in accordance with applicable laws and regulations. Agency for Supervision of Fully Funded Pension Insurance is a legal person and it is responsible to the Government of the Republic of North Macedonia for its work.

Transition from another mandatory pension fund

Any person wanting to transit from another Mandatory Pension Fund into the Mandatory Pension Fund managed by KB First Pension Company AD Skopje shall sign a Transition Agreement with a Company’s licensed agent and a Statement of Consent related to the transfer from one to another Mandatory Pension Fund.

Also, a transfer fee shall be paid (if the insured person is supposed to pay such fee in accordance with Article 98, paragraph 1, item (c) of the Law on Mandatory Fully Funded Pension Insurance).

Precise information on the requirement for payment of the transfer fee, its amount and manner of payment shall be obtained from the Pension Company managing the existing Mandatory Pension Fund that the insured person wants to change.