Skopje, 1 October 2024 (MIA) - The Pension and Disability Insurance Fund paid Tuesday the increased pensions in the linear amount of Mden 2,500 (EUR 40), which represents an 11.2-percent raise. An alignment using the existing methodology would have resulted in a four-percent increase, says Fund director Nikola Memov.

Regarding the Fund's budget deficit, Memov told Telma that it generally resulted from the economic policies of prior governments related to the economic growth trends, not as a result of the Fund's poor management.

"We will do the analysis and define the reasons for this in the coming period. The current increase of Mden 2,500 has led to a deficit rise of eight percent, but this measure will contribute to an improvement in the pensioners' standard of life," says Memov.

He adds that according to projections, the deficit is expected to stabilize at 36-37 percent by the year-end, "because of the expected increase in the revenues from the collection of contributions".

"Considering the current state of the deficit, the Fund will put forward short-term and mid-term strategic measures to the Government for increase of its own revenues, towards ensuring the social security of pensioners and all other insured persons," notes Memov.

Photo: Pension and Disability Insurance Fund of North Macedonia