PENSION SYSTEMS REFORMS IN MACEDONIA: CAUSES, CONDITIONS AND BENEFITS

Pension systems in most countries in the world are in crisis. In Macedonia, the reasons for the crisis in the pension system are generally of socio-economic nature. The pension system reforms in the country are aimed in establishing a new model of pension and disability insurance. Preparations for the reform of the pension system in the country began in 1993 and radical reform was implemented in 2006 with the introduction of the second pillar and another in 2009 with the introduction of the third pillar. The purpose of the paper is making analysis of the main causes, conditions and current and prospective developments in the pension system in Macedonia. The benefits of the reformed pension system in terms of individuals and in terms of the pension system can be very effective for the whole economy.