With the latest announced increase, the minimum pension will increase by 36 denars and the average by 63 denars, Sitel reported, but it is causing an uproar among some 170,000 pensioners who receive up to 14,500 denars payment and are considered vulnerable.
The solution to the problem of low pensions is a return to the old formula for calculation, because with the new law, wage growth does not enter into the calculation, only inflation.
Because of this, although salaries have increased by 4% this year, pensioners will receive a symbolic 0.4% more money on their accounts with the new settlement.
The Ministry of Labor and Social Policy says that activities are being taken to improve the status of retirees, and the proof of this was the fact that in 2016 the average pension amounted to 13,754 denars, and in July 2019 it was 14,530 denars.
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