Pensions to be adjusted again by percentage — what a 20,000-denar pension would get

Pensioners in North Macedonia are set to see the next regular adjustment to monthly benefits calculated as a percentage of each pension rather than as a flat sum, the Ministry of Social Policy, Demography and Youth has signalled.

How the percentage model will work

The level of the increase will depend on official data for consumer price growth and average wages. Initial estimates put the possible adjustment around 3 to 3.5 percent, but the exact rate will be announced after the final calculation.

Under a percentage-based approach each pension is raised by the same percentage of its current amount, so higher pensions produce larger nominal increases in denars, while lower pensions receive smaller nominal increases.

To illustrate: if the final rate is 3 percent, a pension of 20,000 denars would rise by 600 denars to 20,600 denars; a 25,000-denar pension would increase by 750 denars to 25,750 denars; 30,000 denars would gain 900 denars to 30,900 denars; a 40,000-denar pension would grow by 1,200 denars to 41,200 denars; and a 50,000-denar pension would increase by 1,500 denars to 51,500 denars.

If the adjustment is 3.5 percent, the same examples would yield slightly higher amounts: a 20,000-denar pension would gain 700 denars to reach 20,700 denars; 25,000 denars would rise by 875 denars to 25,875 denars; 30,000 denars would increase by 1,050 denars to 31,050 denars; 40,000 denars would add 1,400 denars to become 41,400 denars; and 50,000 denars would grow by 1,750 denars to 51,750 denars.

These calculations are examples based on the two possible rates; the precise amount each pensioner will receive depends on the officially determined percentage. Once the rate is published, beneficiaries can compute the increase by multiplying their current pension by the announced percentage — the result is the monthly rise in denars.

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