The 2024 audit conducted by the State Audit Entity for the Pension and Disability Insurance Fund of North Macedonia concluded that the current collection of pension and disability insurance contributions remains insufficient to cover the existing deficit within the pension system. The comprehensive audit issued a negative opinion concerning the true and fair presentation of the fund’s financial position and the results of its financial activities. Furthermore, the audit noted discrepancies regarding the consistency of financial transactions with established legislation, guidelines, and policies.
Despite the overall deficit findings, the report detailed certain revenue increases. Specifically, revenues generated from contributions designated for PIO1 saw a notable rise in 2024. These contributions increased by 14% when compared to the figures recorded in 2023, reaching a total of 71,435,601 Macedonian denars.
This amount represented a substantial 61.74% share of the total generated revenues for the period under review. The negative opinion issued by the audit highlights significant concerns regarding the fund’s financial management and its ability to sustain current obligations. While the growth in specific contribution streams provides some data points, the overall assessment underscores persistent structural challenges within the pension framework.
Stakeholders and policymakers are expected to address these findings to ensure the long-term financial stability of the pension system moving forward.
Topics: #pension #audit #financial
