Wednesday, 1 April 2020 | News today: 0

Pensions paid to 300.047 retirees

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The Finance Ministry paid out the retirement incomes to the 300.047 retirees across the country. A total of 3,849 billion denars (63 million EUR) were paid out, for an average retirement income of 13.077 denars (213 EUR). “The payment of retirement incomes will continue each first week of the month. Support of the living standards of retirees and welfare recipients remains a Government priority”, the Finance Ministry informed in a press release.

The Retirement and Healthcare Insurance Fund (FZOM) is funded through a tax on all employees, and operates with a loss which is regularly covered by the central budget.

December’s payment was put in doubt after the newly appointed Alternate Finance Minister Kire Naumov vetoed a 100 million EUR bond auction, using the prerogative given to him according to the political agreement for joint governance of some departments until the April 2016 early elections. The State Electoral Commission voted to overrule Naumov’s veto, and the bond auction went ahead as planned, providing the liquidity in the treasury.