VMRO-DPMNE announces ambitious reform that will raise funds for PDIF

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VMRO-DPMNE plans, if it wins the next parliamentary elections, to completely
change the way money is allocated between state and private pension funds, and
this will be done by reducing the share of contributions made to the second
mandatory pension fund.
This was confirmed by Trajko Slaveski, a member of the Executive Committee of
VMRO-DPMNE, and former finance minister. Slaveski says they plan and initiate
legislative changes that would eliminate the possibility of pension funds investing in
government securities. The opposition party believes that, in this way, it will manage
to reduce the minus in the state fund which is increasing every year and is covered
with money from the state budget.

"The first measure will be to reduce the percentage of contributions that are directed
to the second pension pillar. We make analyzes to optimally measure this reduction.
The second measure will aim at introducing legislative changes, eliminating the
possibility of investing in government securities and easing the restrictions on
investments in certain classes of assets in the LCPCR. On the one hand, the state
borrows in order to finance the LCPCR, and on the other, one of the dominant
buyers of government bonds is the mandatory pension funds, to which the state
continuously pays interest.
This vicious circle must stop! This leads to rationalization and creation of fiscal
space, i.e. reduction of public debt and stabilization of the conditions in PDIFM,” says
Slaveski.

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