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Poverty among the elderly, half of pensioners today are receiving partial payments

2024-04-08 07:14:00, Ekonomi CNA

Poverty among the elderly, half of pensioners today are receiving partial

In 2023, half of retirees received partial payments, because they failed to meet the criteria of the Social Security Law for the benefit of full payments.

The official data of the Institute of Social Insurance show that since the implementation of the pension reform, the percentage of pensioners with partial payment has increased significantly.

In 2014, there were 460,736 old-age pensions in total, while 28% of them, or 128,214, received partial payments.

The percentage of pensioners with partial payments increased from 28% in 2014 to 50% in 2024.

Social security experts claim that this percentage will expand further in the coming years, as the transition generation that has worked in the black or paid very little insurance, not meeting the criteria, is currently retiring.

Most pensioners are ending up with monthly payments close to the minimum and social pension.

People who retired during 2023 received an average payment of 15,569 ALL, this value is 15% lower than the average pension for all retirees.

As more and more retirees are receiving partial payments, in turn, the government and the private sector have accelerated the pace of wage growth, further deepening the income gap between retirees and workers.

Failure to meet the criteria for full retirement risks increasing poverty in old age, as our country does not have developed social protection and care centers for the elderly.

Civil society also remains unorganized to provide support for the elderly, as in other developed countries.

The social insurance scheme allows all persons who have not completed the required years of work according to the law, to benefit from a partial old-age pension.

This means that they will receive the pension for as many years of work as they have invested in the scheme, but not less than 15 years in total.

Persons who have insurance periods are entitled to a partial old-age pension when they reach the age of 65 for men and 60 for women.

According to the Social Security Law, they must have no less than 15 years of insurance period and no more than 35 years of insurance period and have retired from economic activity.

In order to benefit from the full old-age pension, at least 38.2 years of insurance are needed this year to benefit from a full pension, and by 2030 it will take 40 years of work with insurance, criteria that are not being met by the majority of people leaving currently retired./ Monitor magazine

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