Law 7703, dated 11.05.1993, “on Social Insurance in the Republic of Albania”, is a fundamental piece of legislation that governs the social security system in Albania. This law was amended in 2009, and its purpose is to ensure the rights of citizens to social security and to guarantee their access to social services. It also provides for the establishment of a Social Insurance Fund and the establishment of a Social Insurance Institute.
Overview of Law 7703
Law 7703, dated 11.05.1993, “on Social Insurance in the Republic of Albania” is the fundamental law governing the social security system in the country. It is comprised of three main parts: the right to social security, the establishment of a Social Insurance Fund, and the establishment of a Social Insurance Institute.
The right to social security is provided for in the law, which states that all citizens of Albania are entitled to social security, regardless of their social or economic status. The law also outlines the types of social security benefits, such as pensions, sickness and maternity benefits, disability benefits, and unemployment benefits.
The law also establishes a Social Insurance Fund, which is responsible for collecting and managing the funds necessary for the payment of social security benefits. The Social Insurance Institute is also established, which is responsible for administering the social security system and ensuring that citizens receive the benefits to which they are entitled.
Changes to Law 7703
In 2009, Law 7703 was amended in order to address the changing needs of the Albanian social security system. The amendments included provisions for the introduction of a new pension system, the introduction of a new system for the calculation of pensions, and the introduction of new social security benefits, such as pensions for widows and orphans.
The amendments also included provisions for the introduction of a new system of social security contributions, which would be based on the contributions of both employers and employees. This new system would ensure that the Social Insurance Fund had the necessary resources to meet the social security needs of the citizens of Albania.
Lastly, the amendments included provisions for the introduction of a new system of social security benefits, which would be based on the needs of the citizens of Albania, rather than on the contributions of employers and employees. This new system would ensure that all citizens of Albania had access to the social security benefits to which they were entitled.
In conclusion, Law 7703, dated 11.05.1993, “on Social Insurance in the Republic of Albania” is a fundamental piece of legislation
