Finance Minister Mali confirms: Pensions to be increased in Serbia by 5.9% starting January

Photo: Tanjug/Rade Prelic

From January 1, 2021, pensions will be higher by 5.9 percent based on the Swiss formula, Minister of Finance Sinisa Mali has announced.

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At a press conference held after the session of the Socio-Economic Council, one of the topics of which was to determine the minimum price of labor, Mali said that an increase in pensions was planned according to the law, based on the Swiss formula.

"The situation in the budget is stable. We are also going forward with an increase of the minimum wage by 6.6 percent and with an increase in pensions by 5.9 percent. We have money for that in the budget," said Mali.

The average pension for June amounted to 27,775 dinars, and from January, with an increase of about 6 percent which is expected based on adjustments calculated according to the Swiss formula, it would be increased by 1,666 dinars and amount to about 29,440 dinars. (250 euros)

January pensions will be increased in accordance with the Swiss formula, which will continue to improve the standard of pensioners in 2021, Serbian President Aleksandar Vucic announced earlier.

The total increase in pensions in the period 2012-2021 has been 30.9 percent, and for pensioners who receive an amount of money as an increase along with their pension it has been 37.5 percent, which means that a person who received 20,000 dinars in 2012 will now have 27,499 dinars, while those who collected 30,000 dinars will now have 39,284 dinars.

(Telegraf Biznis)