While visiting the Republic of Turkey in October 2009, Director of Agency for Supervision of Fully Funded Pension insurance Msc. Bulent Dervisi, concluded Memorandum of Understanding with Pension Monitoring Center of Turkey. | |  |
The Project of the Foundation Open Society Institute of Macedonia for Assessment of the Good Governance Potential in the Republic of Macedonia for the first time this year organized a competition for good governance awards. | | |
|
 |
What are the changes in the pension system?
Under the current pension system, the employer pays 19% of each employee's salary to the Fund for Pension and Disability Insurance of Macedonia – PDIF. In the reformed system the same contribution will be paid. What is new is that two private pension funds have been established, and for employees who become their members the pension and disability insurance will be covered by both the PDIF and a private pension fund. This is the two-pillar pension system. The total of 19% contribution is divided into two parts: 12,35% will remain in the PDIF and 6,65% will be transferred to an individual account in the chosen private pension fund. The contribution paid to individual accounts will accumulate and increase by earning an investment income. | | |
|
english
