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Pensioners Continue to Outgrow Workers

Croatia4The latest data from the Croatian Pension Insurance Institute (HZMO) paints a bleak picture with the gap between those on a pension and those workers paying for it continuing to widen…

HZMO said that the number of new pensioners at the end of 2013 was up 2.74% (49,000 people) compared to the end of the previous year. The number of insurees, or those paying for the pensions, had fallen. HZMO says that at the end of 2013 there were 1.4 million insurees and 1.19 million beneficiaries.

The 1.18:1 ratio of insurees to beneficaries was a concerning one with HZMO’s expenditures (36.6 billion) now outstripping its revenues (36.59 billion kuna).

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