Pensioners in Sveti Nikole protest pension increase model

Pensioners in Sveti Nikole have staged a protest to demand a return to a linear pension increase model. They are protesting the current percentage-based adjustment system, which will implement a 3 percent increase starting with September pensions (payable in October).

Protesters argue that the percentage model disproportionately benefits higher earners. Under this system, a pension of 20,228 denars increases by approximately 606 denars, while the average pension of 29,609 denars increases by 888 denars. In contrast, the highest pensions can see increases of nearly 2,830 denars. Demonstrators stated that because the costs of food and medicine are the same for everyone, a linear model—where every pensioner receives the same nominal amount—would better support those with the lowest incomes.

Participants noted that the gap between the lowest and highest pensions has widened from a 1:4 ratio to 1:7. Nikola Memov, Director of PIOM, stated that since September 2024, pensioners have received a cumulative nominal increase of 7,000 denars through linear hikes. He also noted that pension payments for 2026 are planned at approximately 117 billion denars, against projected contribution revenues of 85 billion denars.