New retirement rules from January 1st

From January 1 next year, the age limit to retirement for women will be moved by two months, so in 2021, women will be able to retire at 63 years and two months of age and at least 15 years of regularly paying pension insurance.  

The State Pension Fund (PIO) recalls that the same conditions apply to men as of this year, namely 65 years of age and at least 15 years of paying salary contributions.

In addition, retiring based on age, workers of both sexes can exercise this right from after 45 years of work and accrued contributions, regardless of the age.

From January 1, the conditions for exercising the right to an early retirement pension will change, so men will need to have been paying at least 40 years of pension insurance and be 59 years of age, while women will need at least 39 years and four months of work and 58 years and four months of life.

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In this case, the pension is permanently reduced by 0.34% each month before the prescribed age for acquiring the right to an old-age pension in that calendar year, and the total amount of the reduction for the early retirement pension can reach a maximum of 20.4%.

The PIO also states that if workers wish to exercise the right to a pension under the terms of this year, he or she must terminate his or her employment and submit the application by the end of this year.

Submitting the application on or after January 1 implies that the conditions applicable in that year are valid. Therefore, in order to exercise your right to a pension under the conditions that apply in 2020, you must terminate your employment no later than December 30 in order to file an application to exercise your right to a pension no later than December 31.

(Politika, 22.12.2020)



This post is also available in: Italiano

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