Q:
A:
Indexation of pensions to be conducted twice a year
Belgrade,
27 June 2005
Serbian Minister of Labour, Employment, and Social Policy Slobodan Lalovic announced today that the government’s proposal under the upcoming pension reform will be for the indexation of pensions in line with increases in the cost of living to be carried out twice a year instead of once a year as previously announced.
Lalovic told national broadcaster RTS that the government will keep the original proposal for the retirement age to be extended by six months for both men and women, to 65 and 60 years respectively.
He said the new retirement age will not apply to redundant employees with two years until retirement and who are registered at the National Employment Service (NSE).
Speaking about bi-annual adjustment, Lalovic said that pension checks will not be reduced but rather that their growth will be slower and that they will be paid in a timely manner.
Lalovic said that there is still a dilemma on the minimum pension check as well as whether the changes to the pension system should be introduced in parliament in July or in the autumn. He said, however, that this will be known next week.
According to him, it is better to adopt the changes immediately as their implementation will bring security to some 80 percent or 90 percent of pensioners.
Lalovic said that pension reform should be perceived as a part of overall social changes that will improve productivity, boost GDP, attract more investment, and increase the utilisation of capacities and workforce, which in turn will lead to higher pensions.
He said the new retirement age will not apply to redundant employees with two years until retirement and who are registered at the National Employment Service (NSE).
Speaking about bi-annual adjustment, Lalovic said that pension checks will not be reduced but rather that their growth will be slower and that they will be paid in a timely manner.
Lalovic said that there is still a dilemma on the minimum pension check as well as whether the changes to the pension system should be introduced in parliament in July or in the autumn. He said, however, that this will be known next week.
According to him, it is better to adopt the changes immediately as their implementation will bring security to some 80 percent or 90 percent of pensioners.
Lalovic said that pension reform should be perceived as a part of overall social changes that will improve productivity, boost GDP, attract more investment, and increase the utilisation of capacities and workforce, which in turn will lead to higher pensions.
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