New Social Security Agreement with Former Yugoslav Republic of Macedonia Announced
Australia (News4us.com) April 03, 2011
A new Social Security Agreement with the former Yugoslav Republic of Macedonia will make retirement easier for around 4000 residents of Australia and the former Yugoslav Republic of Macedonia.
From today, eligible people who have spent part of their adult lives in both Australia and the former Yugoslav Republic of Macedonia will have access to pensions from both countries.
Under the Agreement, Australians living in the former Yugoslav Republic of Macedonia will have access to the Australian Age Pension, while Australian residents who previously lived in the former Yugoslav Republic of Macedonia will have access to age, invalidity and survivors’ benefits from that country.
The Agreement gives people more freedom to move between Australia and the former Yugoslav Republic of Macedonia, knowing that their pension entitlements will be recognised and protected.
It recognises that many people live and work in more than one country and this requires arrangements which safeguard their retirement income.
The Agreement will also remove the requirement for compulsory contributions to be paid into both countries’ superannuation and pension systems for temporarily seconded workers.
As well as improving access to pensions, the Agreement will also encourage further ties between both countries.
Through our strong relations with the former Yugoslav Republic of Macedonia, the Australian Government has secured this Agreement to provide better retirement income for people who have moved between the two countries.
Australia already has 24 social security agreements with Austria, Belgium, Canada, Chile, Croatia, Cyprus, Denmark, Finland, Germany, Greece, Ireland, Italy, Japan, Korea, Malta, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovenia, Spain, Switzerland and the USA.
Agreements with the Czech and Slovak Republics have also been signed and are being finalised.
For further details visit http://www.fahcsia.gov.au/sa/international/ssa/agreements_new/Pages/default.aspx
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