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Fund for Pension and Disability Insurance drives up its revenues

Fund for Pension and Disability Insurance drives up its revenues

According to the data of the Fund for pension and disability insurance of Montenegro, total receipts for the period January 2019 – September 2019 amounted to €318.6 million, by 1,2% higher than in 2018.

Contributions share, as fundamental funding source of the Fund, amounted to 70,3% of total revenues.

Transfers from the budget, accounting for 29,5% of total revenues, are by 5% lower than in the same period last year.

Total expenses of the Fund amounted to €318, 6 million.

Expenses for pensions are the most important item in the expenses, amounting to 99,1% of total expenses.

According to data released by the Fund, total revenues generated over nine month-period in 2019 amounted to €178,4 million, by 8.6% higher than in 2018.

Total expenses amounted to €178,4 million, which means that the Fund had a balanced budget.

Greatest share in total expenses refereed to the expenses concerning transfers, individuals, non-government and public sector (€80,8 million), current expenses amounting to €73,1 million, transfers for social protection (€23, 2 million), and €1,3 million referred to capital expenses.

Outstanding liabilities of the Fund amounted to €24,7 million at the end of September. Outstanding liabilities mostly referred to transfers to institutions, individuals and loans, whereas liabilities concerning transfers for social protection amounted to €6,8 million.

 

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