Croatia's ratio of workers to pensioners 1,16 to 1

The ratio of workers to pensioners slightly improved in 2015 to 1.16 to 1 as against the ratio of 1.14 to 1 in 2014, the director of the Croatian Pension Insurance Agency (HZMO), Srecko Vukovic said in the national parliament on Thursday.

During a parliamentary debate about the HZMO, some data were presented including the fact that in 2014, 51,526 Croatians retired, an annual increase of 5.67%, while in 2015, the number of newly retired persons decreased by 5%.

Vukovic said that the "entries" of disability pensions into the HZMO register also decreased in 2015.

The mean length of years of service of recipients of old age pensions was 33 years, and the mean length of years of service of all pension recipients was 30 years, thus rising by 2 years over the past 15 years.

The average age of female pension recipients is 70 years and two months and the average age of male pensioners is 72 years and five months.

On average, the old-age pension is used over a span of 20.5 years and the disability pension over a span of 19 years.

The pension system is affected by a low portion of pensions earned after full years of service , a mere 13.5%, however the things started changing for the better in 2015, Vukovic said.

In 2014, the average monthly pensions was 2,238 kuna ( approximately EUR 295), which was 39.17% of the average take-home pay.

 

(EUR 1 = HRK 7.6)

Last update: Thu, 04/02/2016 - 13:13
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