Based on data provided by the Statistical Office of the Republic of Srpska, the Board of Directors of the Pension and Disability Insurance Fund of the Republic of Srpska has determined that pensions earned until December 31, 2019, are adjusted from January 1, 2020, increasing by 3.11%.
The amounts of the lowest pension as of January 1, 2020, were determined by adding the minimum pension amounts for December 2019 by the indicated percentage of pension adjustments.
The main reason for this decision is the fact that the said pension adjustment would not apply to the highest number of beneficiaries of the lowest pension since the adjusted pension would still be lower than the applicable amount of the lowest pension. In addition, the objective of this decision is to improve the financial position of the most vulnerable category of pension beneficiaries, ie beneficiaries of which the lowest pension is paid.
To implement this decision, additional funds of about KM 616,000 per month, or about KM 7,392,000 by the end of 2020, are needed.
The amounts of the minimum pension as of January 1, 2020:
– up to 15 years of pensionable service – KM 201,82
– for 15 years of pensionable service and more and less than 20 years – KM 242,21
– for 20 years of pensionable service and more and less than 30 years – KM 282.57
– for 30 years of pensionable service and more and less than 40 years – 322,97 KM
– for 40 years of retirement and more – 403,71 KM