Wednesday, 13 December 2017 | News today: 13

The Government contradicts the IMF and the World Bank

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The government is seriously committed to stabilizing the Pension and Disability Insurance Fund thus setting up a governmental council that is run by the Ministry of Labor and Social Policy, Mila Carovska said Thursday.

The Minister of Labor and Social Policy said that while the state of the Fund was being analyzed, two World Bank experts were preparing in-depth analyses on the pension associations that was expected to produce a report to lay foundations for an action plan on legal amendments.

Asked whether the government would accept IMF recommendations on stabilizing the Fund, Carovska said the recommendations were being respected however their recommendations didn’t suggest revocation of early retirement age and increase of mandatory retirement age.

“Macedonia should take other steps, which will be made after having prepared a comprehensive plan. To stabilize the Fund, the first measure we took was to abide by the law on pension increase and alignment, we refrained from respecting ad hoc, groundless increases,” stated Carovska.

To raise the mandatory retirement age is no simple solution, according to her. “It’s the last resort, Macedonia has other problems to overcome first. It could be done in the long run, but right now the issue isn’t mulled, the government has other measures to take,” Minister Carovska concluded.