Pensions in FYROM are at risk

Pensions in FYROM are at risk

Skopje, 22 July 2016/Independent Balkan News Agency

By Naser Pajaziti

Pensions in FYR Macedonia will be at risk if a debt is not secured through the sale of euro bonds. This is said by the expert on economic affairs, Branimir Jovanovic.

“There’s a hole in the system of pensions and it must be covered in one way or another. This can be covered through debt or by increasing taxes. If no loan is taken and no taxes are increased, then there’s no way to cover the payment of pensions”, Jovanovic says.

Prime Minister Emil Dimitriev declared that the scope of emitting euro bonds in the market is to keep on with the payment of pensions and salaries.

According to him, the new debt offers a longer term macro financial stability of the state and this is not only the case for FYROM.

FYROM has around 300 thousand pensioners, who make up for 1/3 of the population. The majority of pensions or 177 thousand and 664 of them are retirement pensions. Then there are disability pensions, family pensions and so on.

The retirement age for men is 64 and for women it is 62 and they must have at least 15 years of seniority. /