North Macedonia to increase pensions by 3% to 3.5% in October

Pensioners in North Macedonia are set to receive a new adjustment to their pensions starting in October. Based on legal methodology accounting for inflation and wage increases, pensions are expected to rise by approximately 3% to 3.5%, with payments scheduled for October 1.

Unlike previous linear increases, this new percentage-based harmonization means the amount of the increase will depend on the current pension amount. For example, at a 3% increase, a pension of 20,000 denars would rise by 600 denars, while a pension of 50,000 denars would increase by 1,500 denars. The final percentage will be determined by official data and legal calculations.

In addition to this adjustment, further changes to the pension system are anticipated, including a proposal regarding the possibility of purchasing years of service for certain categories of citizens.