Contributions collected from pension and disability insurance continue to be insufficient to cover the deficit in the pension system, according to the 2024 audit by the State Audit Office of the Pension and Disability Insurance Fund of North Macedonia.
The SAO report emphasizes that the 2024 audit issued an adverse opinion regarding the accurate and fair presentation of the financial position and the results of financial activities, as well as on the compliance of financial transactions with the relevant legislation, guidelines, and established policies.
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According to the report, revenue from contributions collected for PIO1 in 2024 increased by 14% compared with 2023, reaching 71,435,601 thousand denars and accounting for 61.74% of total realized revenue.
However, this revenue growth in 2024 remains insufficient to cover pension expenditures, which have also increased every year and in 2024 reached 90,277,241 thousand denars.
Registry data show that at the end of 2024, the system counted 556,294 insured persons and 343,048 pensioners. This translates into a ratio of 1.63 insured persons for every pensioner, marking a slight decline compared with the previous year.
