Contributions for Federal Insurance are lower by 35 million BAM, but Pensions are not endangered

Revenues for pension and disability insurance in the first seven months of this year were lower by 3.5 percent, which is a decrease of about 35 million BAM, confirmed yesterday for “Dnevni Avaz” Zijad Krnjic, director of the Federal Institute of Pension and Disability Insurance.

But despite a significant drop in income, Krnjic says there is no cause for concern and that the pension system is stable for now. The reason for the drop in income is lower contributions, given the coronavirus pandemic, which caused many workers to lose their jobs and companies to close their doors.

”Considering what happened, and after the first shock after the outbreak of the coronavirus pandemic, the situation is good for now. The budget is neither burdened nor threatened. This situation is still sustainable since we have 97 percent of the funds for payment,” Krnjic pointed out.

He stated that pensioners do not have to worry about the payment of pensions, which is regular.

”The pension system is under control. We have also recently made adjustments. The difference was paid in seven months and everything is going according to plan. We will see by the end of the year how things will go with the pandemic in payments,” said Krnjic.

Krnjic says that the payment of the installment for the pensioner’s building in Nedzarici, which was sold for 10.3 million BAM, is still pending. More than ten months have passed since the sale of the devastated Retirement Home in Nedžarići through the FBiH Privatization Agency “Capital Holding”, and the money has not yet been paid to the Federal Institute for Pension and Disability Insurance.

”They promised to pay the installment by the end of the month,” Krnjic explained.

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