Pension gap gets bigger – EUR 530 million transferred from the budget to PIOM for the pensions payments in 2022

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The State Audit Office informed that the state transferred around 530 million euros to cover the pension gap in 2022. If we take into account the completed account for 2022, according to which the total expenditures in the Budget were 4.5 billion euros, then it is shown that about 12 percent of these funds went to closing the pension gap.

The state auditors who put the Pension and Disability Insurance Fund under scrutiny are worried about the situation in the Pension and Disability Insurance Fund of Macedonia – PIOM Fund. The difference between the income from collected contributions for pension and disability insurance from employees, which must be paid as pensions and health contributions for retirees, is 33.58 percent, or one third of the necessary amount. That is the amount that must be covered by a direct transfer from the Budget.

“The achieved increase in income in 2022 is still not enough to cover the expenses for social benefits, they are covered by allocating funds from the Budget and participate with 33.58% in the total income of the Fund,” the State Audit Office said.

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