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Pensions: there is a thirteenth problem with the expected payout with the December slippage that is likely to jump. This is not a problem that will affect me Italian pensioners, for which – despite the economic crisis caused by the spread of the coronavirus – there are no imminent problems related to the payment of December 13, but only the resident in the Republic of San Marino.
This is where we have been wondering for a few months. how to pay the “double board“In December, Since the thirteenth. And despite the guarantees, the risk remains, with the State having to think about a innovative solution if you do not want to sanction the citizens of the Republic of San Marino.
But what is the reason why the pensions run the risk of not being paid? This is a problem that has persisted for some time, and the COVID-19 crisis certainly does not help solve it. The fact is, there is a problem with pension fund imbalance and that if a solution is not found before next month there is a real risk that this year San Marino pensioners will be left without the thirteenth.
San Marino: because the payment of the thirteenth is at risk
The first to speak about the imbalance of pension funds was the Administrative Director of the ISS, Marcello Forcellini, in Health Commission. This explains that there is a 10 billion euro hole which could avoid paying the double pension in December.
A report that highlights a problem that not only concerns the social security sector; there are difficulties, in fact, in almost all areas of the health and socio-health sector. The ISS of San Marino, therefore, is in a precarious situation, both economically and financially, so much so that the budget for the 2019, in which there is a deficit of health and social health activities of 7 million euros, has not yet been approved.
The financial statements are characterized by a pension imbalance that has persisted since 2017, with i Employee pension funds which had a general imbalance of approx. 38.6 million.
A situation that inevitably affects the financial state, with the Institute’s farm in deep difficulty. It is, for the moment, to find one buffer solution to pay pensions: the figure identified for the payment of December 13 is 10 million euros. It won’t be easy, so much so that Managing Director Marcello Forcellini admitted to being “worried”.
For the moment, therefore, we must think of a solution “in fast times“That allows closing of the current fiscal year and the payment of the thirteenth pension; then a plan will be implemented for a profound restructuring of both the administrative area and the Institute’s balance sheet.
Also because, in terms of pensions, the the situation is bound to get worse, with an imbalance between income and expenses of approximately 50 million (of which 35 million from the State) in favor of the latter.
San Marino: the thirteenth of the pension will be paid
To reassure retirees, Chief of Health Ciavatta, who – while recognizing the state of difficulty – says he is convinced that the payments planned for December, therefore plus thirteenth pension, they will arrive regularly.
This then puts the blame for the current situation on the past administration, but explains that despite the deficit there will be no problems paying pensions. The solution will be “transfer funds from the state to the ISS“And in the worst case, a mortgage will be taken out and it will pay off the following year.
However, as anticipated, it would only be a momentary solution that it would not solve the structural problems of San Marino’s social security system; For this reason, it is very likely that in 2021 we will talk about pension reform, a project that has been under discussion for some time but without specific interventions.
