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In January of this year, contributions were paid by 23 thousand fewer people

In the first month of this year, the ratio of pensioners to employees in Croatia fell to just one to 1.28, which, analysts say, is the most unfavorable ratio of insured persons to pension beneficiaries since the Croatian Pension Insurance Institute began monitoring it.

We also learn that the number of those who regularly pay pension contributions in January of this year has decreased by more than 23 thousand. In January of this year, net pension contributions of only 312.6 million kuna were paid into the accounts of mandatory pension funds, which, according to Hanfa’s data, is the lowest monthly amount of net contributions paid in the last three years.

Such a significant drop in the number of insured persons and amounts in just one month in our mandatory pension funds is also interpreted as a direct consequence of the recession, or the alarming state of the labor market. Beneath the surface, analysts say, things look even worse as there are more and more people in the market who, although they are working, do not receive a salary nor are their contributions paid. In this regard, the head of a commercial bank recently revealed that among citizens who receive salaries through that bank, there were approximately four thousand fewer paid salaries in January of this year, but only a third of them did not receive a salary because they lost their jobs, while the others did not receive it even though they are working.

An interesting piece of information is that despite the decrease in the number of insured persons who regularly pay contributions, the net assets under the management of domestic mandatory pension funds increased by 2.8 percent in just one month, reaching nearly 30.1 billion kuna by the end of January this year. The increase in assets is mostly attributed to the good management of our funds over that property. On the last day of 2009, the Croatian Pension Insurance Institute had a record of 1,530,233 insured persons who were paying (or should have been paying) contributions as employees, craftsmen, farmers, or self-employed individuals, and by the end of January, their number decreased to 1,525,204 insured persons. (N. P.)