He visited Belgrade on route to Macedonia where he has been working for several years on the pension system reform, that is, on setting up the second and the third pension pillars. Currently, 35% of all contributions for pension insurance are paid into the second pension pillar and such payment is made compulsory for all first time employed in Macedonia since 1 January 2003.
Hence the decrease in the volume of current payments into the state pension fund and the increase in the volume of contributions from the budget to the state pension fund. However, this new pension scheme will cut future budgetary expenditures.