A Fiscal Council opinion on the government's 5-year strategy, which states that the retirement age must be raised to 67 for both men and women to prevent the Fund from bursting, has reignited discussions about pensions and the sustainability of the Fund. PIOM. However, an increase in the retirement age has not been voted for now.
In the fiscal strategy that was signed by Prime Minister Mickoski and refers to the period 2025-2029, it is only stated that a reduction of the deficit of the Fund is planned, for pensions, but from 2026 onwards.
Next year, the deficit in the PIOM Fund will increase to 39% (part of the PIOM which will be paid from the state budget) due to the linear increase of MKD 5000 for each pensioner. Next year in 2025, the government plans to transfer from the budget to PIOM almost 51 billion denars or about 830 million euros, according to the fiscal strategy.
Then, the government plans to start reducing that deficit both in percentage and in amount, despite the increase in the number of pensioners.
But the fiscal council made up of experts indicated a different solution to protect the budget money so that it does not go to the Pension Fund. That solution is not very popular.
-Reducing the deficit of PIOM, by increasing the retirement limits for men and women at the age of 67, as well as increasing contributions to pension and disability insurance by 0,7 percentage points in 2026 and thereafter if the situation worsens and in 2027, to increase to 21%, according to the opinion of the Fiscal Council.
However, the MPs in the Assembly supported the Fiscal Strategy of the government, which does not mention such measures, with a majority of votes. Academician Abdulmenaf Bejeti also spoke in front of the MPs, but he failed to convince the MPs to increase the retirement age.
In the fiscal strategy that was signed by Prime Minister Mickoski and refers to the period 2025-2029, it is only stated that a reduction of the deficit of the Fund is planned, for pensions, but from 2026 onwards.
Next year, the deficit in the PIOM Fund will increase to 39% (part of the PIOM which will be paid from the state budget) due to the linear increase of MKD 5000 for each pensioner. Next year in 2025, the government plans to transfer from the budget to PIOM almost 51 billion denars or about 830 million euros, according to the fiscal strategy.
Then, the government plans to start reducing that deficit both in percentage and in amount, despite the increase in the number of pensioners.
But the fiscal council made up of experts indicated a different solution to protect the budget money so that it does not go to the Pension Fund. That solution is not very popular.
-Reducing the deficit of PIOM, by increasing the retirement limits for men and women at the age of 67, as well as increasing contributions to pension and disability insurance by 0,7 percentage points in 2026 and thereafter if the situation worsens and in 2027, to increase to 21%, according to the opinion of the Fiscal Council.
However, the MPs in the Assembly supported the Fiscal Strategy of the government, which does not mention such measures, with a majority of votes. Academician Abdulmenaf Bejeti also spoke in front of the MPs, but he failed to convince the MPs to increase the retirement age.
