Pension

Fiscal Council skeptical about measures

BELGRADE -- The proposed salary and pension cuts are insufficient and the VAT will have to be increased as a result, Fiscal Council President Pavle Petrović said.

BELGRADE - The proposed salary and pension cuts are insufficient and the VAT will have to be increased as a result, Fiscal Council President Pavle Petrovic said.

A review of all the pensions being issued by the Greek state which started two years ago in a bid to weed out false claims has resulted in savings of 42.2 million euros, Alternate Finance Minister Christos Staikouras said on Tuesday while presenting the findings of a General Accounting Office census which highlighted hundreds of cases of people claiming the pensions of their dead relatives.

Sixty Greeks have had their pensions stopped because they refused to provide their social security numbers (AMKA) to inspectors for religious reasons, Labor Minister Yiannis Vroutsis has revealed.

A review of the pensions being paid out by the Greek state and new, stricter rules governing pension registrations have led to savings of a total of 42 million euros in the past two years, Alternate Finance Minister Christos Staikouras said on Tuesday.

"Immediate 15 percent cuts of pensions and salaries"

BELGRADE -- Unless public sector salaries and pensions are immediately reduced by 15 percent linearly, a new reduction will have to be implemented in the next year.

BELGRADE - Unless public sector salaries and pensions are immediately reduced by 15 percent linearly, a new reduction will have to be implemented in the next year already, the Fiscal Council warned and added that any lower cut would compel the government to make up for the funds through VAT increase.

BELGRADE - The government has insufficient funds for pensions, but pension cuts alone will not be sufficient to ensure the sustainability of the pension system unless they are accompanied by financial consolidation in all sectors, the participants in a debate on pension system reform said on Wednesday.

Bulgarians have saved some BGN 1813.61 on average for their second supplementary pension, the latest data provided by the Financial Supervision Commission showed.

The savings of people born after 1959 have increased by nearly BGN 172 in six months, Sega Daily informs.

Employers want salaries cut by 25 percent

BELGRADE -- The Union of Employers of Serbia believes that "the fund of gross salaries in the public sector must be reduced by 25 percent."

Secretary General of the Union Dušan Korunoski has been quoted as saying that "it is better to do it now and avoid bankruptcy, than to afterwards cut salaries by 40 percent."