The Social Insurance Institute (ISSH) is inviting beneficiaries to switch from collecting pensions at traditional post offices to receiving them through the banking system.

The ISSH states that this initiative aims to eliminate long queues at post offices and provide a faster, safer, and more convenient solution for citizens, particularly the elderly.

To make the switch, citizens must open an account in one of the second-tier banks with which the ISSH has a cooperation agreement. The account must be designated specifically for pension payments. Once the account is opened, beneficiaries must complete an online application through the e-Albania portal by selecting the “Request for Benefit File Transfer” service.

Currently, the Social Insurance Institute has signed agreements with 10 banks in Albania for pension payments. This process not only modernizes the pension distribution system but also enhances security and convenience for citizens in an era when technology is becoming an inseparable part of everyday life. Pension beneficiaries can now receive their payments on time, without queues or stress, simply through their bank.

The Law on Basic Accounts, which came into force in April 2024, aims to increase access to banking and financial services among the population and provide benefits for vulnerable categories. Under this law, certain categories are entitled to services with reduced or zero fees, as well as the option to convert a regular account into a basic bank account.

Furthermore, services such as opening and closing bank accounts, ATM withdrawals, direct debits, payment transactions via card (including online payments), credit transfers (including standing orders, where applicable), at terminals and bank counters, as well as through online platforms, are also free of charge.

According to last year’s data, about 74,000 pensioners received their pensions through banks, while approximately 666,000 collected them at the post office.