North Macedonia to implement percentage-based pension increases

Macedonian pensioners are expected to see an increase in their monthly payments in the upcoming period. Following previous linear increases, the next adjustment will be calculated using the legal methodology for percentage-based alignment.

According to Gjoko Velkovski, the Minister of Social Policy, Demography, and Youth, the September pensions are projected to rise by approximately 3 to 3.5 percent. This calculation is based on parameters related to inflation and wage growth. Unlike the linear model, this percentage-based approach means the nominal increase in denars will vary depending on the current pension amount; higher pensions will receive a larger nominal increase.