Moldova Pension Guide 2026

Overview — Moldova's Pension System

Moldova's pension system consists of a mandatory state pension (pay-as-you-go, first pillar) and voluntary private pensions (second and third pillars). The state pension is administered by CNAS and funded by social insurance contributions from current workers. Private pension funds, introduced in recent years, offer supplementary retirement savings options. The pension system faces demographic challenges due to population ageing and emigration, and reforms are ongoing to ensure long-term sustainability.

Retirement Age

The standard retirement age in Moldova is being gradually equalised:

• Men — 63 years (no change, already equalised)
• Women — currently 57 years, gradually increasing by 6 months per year to reach 63 years by 2028
• Early retirement — available 5 years before standard age with reduced benefits (requires 35+ years of contributions)
• Deferred retirement — working beyond retirement age increases the pension by approximately 1-2% per year of deferral

State Pension Calculation

The state pension is calculated based on the individual's contribution record and average earnings. Key factors include:

• Contribution period — minimum 15 years for a basic pension, maximum counted up to 40 years
• Reference salary — average of the best 5 consecutive years of earnings in the last 10 years before retirement
• Accrual rate — approximately 1.2% per year of contribution
• Minimum pension — set annually by law (approximately MDL 2,500-3,000 per month in 2026)

The average state pension in Moldova is relatively low compared to salaries, around 30-40% of average earnings. Supplementary private pension savings are essential for a comfortable retirement.

Private Pension Funds

Moldova has introduced voluntary private pension funds (Pilon III) managed by licensed private pension administrators. Key features include:

• Voluntary contributions by individuals or employers
• Tax deductions for contributions (up to 15% of taxable income)
• Investment in diversified portfolios (government bonds, equities, bank deposits)
• Withdrawal at retirement as lump sum or annuity

The private pension market is still developing. Most workers rely primarily on the state pension.

FAQs

Can I receive my pension if I move abroad?

Yes, Moldova has bilateral social security agreements with several countries (Romania, Italy, Portugal, Bulgaria, Czech Republic, and others) that allow pension portability. You may also receive the Moldovan state pension while living abroad.

How much will my state pension be?

This depends on your contribution period and earnings history. You can request a pension estimation from CNAS through your personal account. The average pension in 2026 is approximately MDL 4,000-5,000 per month.

Are self-employed workers covered by the pension system?

Self-employed workers may contribute voluntarily to the state pension system and are eligible for the same benefits as employees. Contributions are based on declared income.

Disclaimer

This guide provides general information about Moldovan pensions for the 2026 tax year. Pension laws, retirement ages, and benefit calculations may change. Always consult with CNAS or a qualified Moldovan pension advisor for advice specific to your situation. InvestmentKit does not provide pension advice.