Komercijalna Banka pays some October pensions early; October pensions increased by 3%
Komercijalna Banka posted funds from Friday, October 30; other banks will make payments by Monday, November 2, and October pensions include a 3% statutory increase.
Pensioners in North Macedonia began receiving their October pensions early at some banks after the country’s regular monthly payment timetable was adjusted for the holiday calendar. The October benefit includes a 3 percent statutory increase.
Under normal practice the Pension and Disability Insurance Fund (PIO Fund) starts payments on the first working day of the month — this year that would be Monday, November 2, because Sunday, November 1 falls on a weekend — but a number of banks have moved funds into customers’ accounts ahead of that date.
Komercijalna Banka announced an advance payment: pension recipients who receive their benefits through Komercijalna Banka had the funds posted to their accounts from Friday, October 30. Customers with debit cards can use the money immediately for in-store and online purchases or ATM withdrawals. Those who prefer to collect cash over the counter can do so at bank branches starting October 30 and on each following business day.
Recipients who get pensions through other banks should expect the money no later than Monday, November 2, according to the individual notices issued by those banks.
Legal indexation and what it means in cash
The October payment carries a legal percentage indexation of 3 percent, applied under Article 37 of the Law on PIO (based on cost-of-living changes and growth in the average wage over the previous half-year). For the average pension — around 28,100 denars — the raise equals roughly 830 to 900 denars, bringing the new amount to approximately 29,000 denars. Higher pensions of roughly 45,000 denars increase by about 1,350 to 1,500 denars, lifting them to around 46,400 denars.
The government has confirmed it is returning to the regular percentage adjustment set out by law to ensure long-term protection and legal certainty for pensioners. Beneficiaries are advised to check their bank accounts and contact their bank if they have questions about timing or access to funds.
Photo: Ilustracija (AI)
