The Central Registry of Affiliates (REGOS) launched the My Pension portal, which provides citizens with access to individualized information from the pension system in the Republic of Croatia and a projection of the amount of the future pension starting from the very first time they enter the labor market. The My Pension portal can be accessed via the mojamirovina.hr link and the e-Citizens system.
Upon accessing the mojamirovina.hr website, an anonymous pension calculator opens for the users, which displays the calculation of the projected amount of pension income from pension insurance in the Republic of Croatia on the basis of anonymously and freely entered requested relevant data. By logging in through the e-Citizens system and entering required credentials, one can access a personalized pension calculator.
The personalized pension calculator enables citizens to view the projection of their pension amount based on real data kept in connection with them in the pension insurance system, as well as additional projections of the future pension amount based on changes in parameters that affect the pension income level from the very first employment. Until now, insured persons were able to find out the amount of their future pension one year before retirement at the earliest, while now they can access this information at any time and from the moment they enter the labor market thanks to the My Pension portal.
A digital platform was implemented as part of the project “MY PENSION - improvement of REGOS services on the labor market” with a total value of EUR 7,179,749.15, co-financed by the European Social Fund in the amount of 85%, which REGOS carried out in cooperation with the Croatian Pension Insurance Institute (HZMO) and with the advisory support of the World Bank in the development and creation of the pension simulation model, as well as the individual pension calculator. Projections of amounts within the pension simulation model are based on the assumptions of future developments, as well as on the legislative framework governing pension insurance in the Republic of Croatia. The latest tax and pension law changes effective from 1 January 2024 are also included in the projections.
Simple access to the personalized pension calculator through the e-Citizens system shows three simulations of the amount of the future pension: A, B and C.
Simulation A shows the pension rights acquired so far and the state of pension savings. The amount of pension shown represents the projection of the amount of old-age pension on the day of calculation, i.e. with the assumption that the user would no longer work from the day of calculation until the fulfillment of the pension requirements according to the Pension Insurance Act.
Simulation B shows the projection of the amount of the future pension assuming that the future wages of the insured person will be at the level of the current salary until their retirement. It is a projection of the amount of the old-age pension that the user will receive if they maintain their current pension insurance status from that moment until their retirement. If the user is employed at that moment, it is assumed that they will continue to work the same number of working hours (full-time or part-time) and will continue to receive wage at the level of the one they have at the time of calculation, which will increase in the future at the same rate as the average wage in the Republic of Croatia. Likewise, if the user is not employed at that time, it is assumed that they will not work until retirement.
Simulation C enables data input according to the user's free choice. The simulation displays the expected pension amount in the selected retirement option and future wage and other income trends. This simulation allows the users to see the impact that changes in relevant data during working life, such as wage and retirement age, have on the amount of future pension. In this way, the insured persons can predict the effect of decisions made during their working life on the amount of future pension income from the first employment relationship, and thus influence their financial future and the amount of their future pension by making timely decisions.
The platform also allows users to download to their computers a detailed tabular display of all the data which serves as the basis for calculating the projected amount of pension, so that insured persons can, for the first time ever, view the data concerning them which is kept in the pension insurance system at any time and in a simple way. In this way, citizens can also notice any possible deficiencies in the entered data regarding their period of service and paid contributions and take timely action to update or supplement the said data if necessary.
The My Pension portal ensures complete transparency and availability of information kept for citizens in the pension insurance system in the Republic of Croatia and enables them to plan their financial future by consulting the projections of the future pension amount. This portal was created with the aim of developing citizens' financial and pension literacy and increasing the transparency and ease of access to information from the pension system.
All additional information about the use of the portal can be obtained by calling the phone number 01/4898 999, via the e-mail address mojamirovina@regos.hr or in person at one of the four Pension Information Centers in Zagreb, Split, Rijeka and Osijek, where citizens can try out the portal and get informed about their future pension with professional support provided by REGOS and HZMO employees.