Pensions in Albania, the Lowest in the Balkans
Albanian Daily News
Published August 11, 2017
Albania is not the best place for the pensioners. According to a study on pension reform conducted by the European Union (EU) in the Balkans results that Albania has the lowest pensions all over the Western Balkans.
The average pension in the Balkans region (Serbia, Montenegro, Macedonia, Bosnia) was EUR 240 at the beginning of 2012, a figure 2.5 times higher than that of Albania, without considering later indexations that may have further deepened this margin.
Meanwhile the data for Albania by the end of 2016 was EUR 86. According to official data of the Social Insurance Institute (SII) the average pension in the city amounted to ALL 14,873 in 2016, while in the village this figure was only ALL 8,556.
The average pension on national level was ALL 11,714 or EUR 86 in 2016.
Montenegro has the highest level of average pension, EUR 323, while Bosnia has the lowest level with EUR 178.
Although the country's economy is experiencing a growing trend at a higher pace in comparison to the region over the past two years the most vulnerable strata protecting remains in low levels.
Albanian pensioners are incomes are much lower compared to those of the neighbors on view of the fact that protective schemes are not implemented as in other regional countries.
From the perspective of EU integration in terms of living index for pensioners, Albania ranks much below the regional countries and much more distant from EU countries.
But the prospect of Albanian pensioners seems to be negative due to the fact that their figures are growing rapidly.