After 10 years of negotiations, Italy's pension agreement has been reached, benefits 500,000 Albanians

This long-awaited agreement by Albanians living and working in the neighbouring country received Italian Foreign Minister Antonio Tayan and Albanian counterpart Igli Hasani.

As TopChannel reports, it is estimated that around 500,000 Albanians and Italians will benefit from this deal. Implementation is expected to begin with about 40,000 pensions per year, and to continue on growth year after year. One of the main benefits is joining the transition periods.

Italy becomes the 17th country with which Albania has signed similar agreements while negotiating with 17 other countries is under way.

The agreement on mutual recognition of Social Insurance between the Republic of Albania and the Republic of Italy allows:

Offering benefits to social insurance.

Equal treatment of employed persons and for employees themselves;

The agreement will apply to related legislation:

Providing for old age, disability, family retirement (revivants);

Insurance for disease and childbirth;

Insurance unemployment.

After the signing, the agreement will be ratified by both contracting states, in line with their respective procedures, and the ratification instruments will be exchanged as soon as possible.

On the first day of the second month following the exchange of ratification documents, the agreement will enter into force simultaneously with the Administrative Agreement for implementing legislation of this agreement, which will become valid at the same time when this agreement comes into force.