In an interview with Hina, Petrovic mentioned that the union made preliminary estimates for pension adjustments, expecting it to be around 7.11%, as all data is not yet available.

This increase will bring about €40 more to pensioners with an average net pension of €580.83. However, Petrovic warned that 60% of pensioners receive pensions below the average. Additionally, when military and veterans’ pensions are excluded, the average is actually €534.84, meaning the increase will be smaller for those pensioners.

Once all statistical data on wages and prices are available, the Governing Council of the Croatian Pension Insurance Institute (HZMO) will make a decision on the adjustment at a meeting after 20 August. This means pensions will increase from 1 July, but the difference will be paid in September with the August pension.

Petrovic recalled that at the National Pensioners’ Council meeting in November, it was agreed to propose to the government that the next amendment to the Pension Insurance Act change the current 70:30 ratio in favour of the better growth index of inflation or wages to 85:15, compared to the 100% request.

“It seems that Finance Minister Marko Primorac did not foresee this; he does not show much social sensitivity towards pensioners, so we fear that this year there will be nothing for pensioners except adjustments according to the current model,” Petrovic emphasized, also recalling the signatures collected in the “Higher Pensions Now” petition.

Pension adjustments before the crises were significantly lower

Adjustments before the crises in recent years were significantly lower. For example, the adjustment rate of the current pension value from 1 January 2019, was 1.15%, and from July it was 2.44%. The next year, 2020, adjustments were 0.70% and 1.41%, and in 2021 it was 0.56% and 2.46%.

The adjustment from January 2022 was 2.24%, and in July it jumped to 6.18%. Last January, it was 5.37%, and a record 8.42% in July 2023. This year’s January adjustment was 4.19%, and now the union’s estimates are at 7.11%.

Petrovic emphasized that this shows wages are rising significantly, although not enough for a normal life considering the rise in inflation, and that the real value of pensions is significantly lower.

“That percentage increase in pensions means nothing because it must always be compared to wage growth. If the share in wage growth continuously falls, it means pensions are falling in real terms,” she warned.

Current HZMO statistics show that the average net pension for the total number of pension beneficiaries, excluding international agreements, is €580.83, and its share in the average net salary for May 2024 is 43.9%.

According to the latest data from the Croatian Bureau of Statistics, the average monthly net salary paid per employee in legal entities for May was €1,324.