Moldova social insurance deficit may fall to 1.9bn MDL
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Social insurance budget deficit shrinks and may reach 1.9 billion lei by 2028

Moldova's state social insurance budget deficit continues to shrink and, according to forecasts, could fall to about 1.9 billion lei by 2028 from about 3.6 billion lei at present.
Светлана Руденко Reading time: 1 minute
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Elena Tsybyrne

Elena Tsybyrne

According to the director general of the National Social Insurance Fund (CNSS), Elena Cibyrne, the downward trend has been observed for several years already: initially, the deficit amounted to about 5.4 billion lei. The forecasts are based on current economic indicators.

Tsybyrne presented the latest data on the ratio of workers to pensioners.

“We keep track of contributors on a monthly basis. Right now we have about 1.18 workers to one pensioner. This is better than before, in the last 7-8 years the ratio has been kept at about 1-1.2,” said Cybyrne on the air of the public TV station Moldova 1.

For comparison, international standards suggest that one pensioner should be provided by 4-5 workers, but Moldova has never reached such a level.

According to the head of the NCSS, the maximum indicator was about 2.1 workers per one pensioner in 2013-2015, but at that time the level of pensions was much lower and the economic situation was different. In addition, there was no such scale of labor migration at that time.

According to the head of the NCSS, one of the main problems remains undeclared or partially declared work, which directly affects the sustainability of the system.

“Young people immediately seek higher salaries after graduation, but it is in these cases that there is often a risk that income is not declared in full. This means underpayment of contributions, income tax and problems with health insurance,” she explained.

At the same time, Elena Tsybyrne noted that the institution has no authority to control employers – its task is to administer the social insurance system and inform citizens.



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