Albanian pensioners are feeling the pinch harder than anyone else in Europe. With the lowest purchasing power on the continent, many are struggling to make ends meet. While the average pension in the EU replaces 58% of a worker’s final salary, in Albania, it’s a measly 37%. That means if someone earned €500 a month before retiring, they’ll get just €185 in pension payments—barely enough to scrape by.
Compared to the rest of Europe, it’s a grim picture. Greece leads the way with a 78% replacement rate, while even Serbia offers better support at 46%. Albania sits rock bottom, with pensioners relying on family handouts or cash from relatives abroad just to survive. But as prices soar, even those lifelines are drying up.
Women have it even worse. A lifetime of lower wages and fewer years in formal work means their pensions are even smaller than men’s. Across Europe, the gender gap is a problem, but in Albania, it’s leaving many women completely out of pocket.
Germany, despite its reputation for low pensions, still provides far more than Albania, with a 49% replacement rate. Spain and Italy, on the other hand, are near the top of the list, with retirees getting over 75% of their final salary.
Albania’s pension system is creaking under the strain, with experts warning that without serious reform, things will only get worse. Cracking down on undeclared work, boosting social security contributions, and encouraging private savings could help. But for now, pensioners across the country are left counting every penny—and it’s not enough.
