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Pension and disability insurance as a part of the social security has its historical development. The pension system of the Republic of Macedonia has existed for more than 50 years and it is reflected by any significant changes in socio-economic relations. The Republic of Macedonia with the Law on Pension and Disability Insurance of 1 January 1994 independently and autonomously initiated regulation of the relations in this area. This Law was significantly amended in 1995, 1996, 1997 and in 2000, 2001, 2003, 2004 and 2005. The recent amendments to the Law laid down the foundations of fully funded pension and disability insurance and supplementation to the legal regulation relating to collection of contribution, taking into consideration that the Fund, in a single procedure, will collect pension and disability insurance contributions, control and allocate them between the state and private referring to its implementation 

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