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How pensions will be withdrawn starting from April 1

2024-03-09 13:16:01Biznes SHKRUAR NGA REDAKSIA VOX
How pensions will be withdrawn starting from April 1
Pensioner in Tirana

The well-known economic expert, Teuta Nunaj, has spoken in the media about the latest developments for pensioners.

To begin with, Mrs. Nunaj gave the news that starting from April 1, 717,000 elderly people will withdraw money from ATMs.

According to her, from this date all citizens will open a bank account and it will be a free account, they are basic, they are mandatory to be implemented, so they must have a bank card.

According to her, individuals who are over 75 or over 80 years old living in rural areas is more difficult and without thinking about categories that do not have the opportunity to move by themselves, but will authorize someone else through a power of attorney.

On the other hand, Teuta Nunaj also warns of an increase in pensions. According to her, the reform in the public administration to increase salaries, which also means an increase in contributions, will affect the increase in pensions.

"The government's prediction is that the new distribution process will start on April 1, 2024. When we are dealing with a new process, it actually has its own difficulties, since the bank will be the institution that will carry out the distribution of pensions, when until now they have been distributed by the Albanian post office. From April 1, all citizens will open a bank account and it will be a free account, they are basic, they are mandatory to be implemented, so they must have a bank card. We have over 700 individuals who benefit not only from pension, but also from social assistance.

All those who will benefit from money from the state budget will go through such a distribution system. It will be difficult on two levels, the first is related to the ability of individuals to be accessible in using their banking data and the second is financial culture. I say that some preparations have not been made, it would be good to have a campaign to make the citizens aware, and this cannot be done in a week or two, but it takes time. This new form will work in cities and those individuals who are used to withdrawing bank accounts.

Individuals who are over 75 or over 80 years old who live in rural areas is more difficult and without thinking about categories that do not have the opportunity to move themselves, but will authorize someone else through a power of attorney. There must have been a preparatory period. It's like when smart phones were introduced and there were some old people using them and most didn't know they were using them and it came gradually. So, they are processes that have difficulties. Then there are individuals who may not have any bank branches where they live in rural areas and so it falls to them to go to another city,” she said.


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