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Voluntary pension funds one of pillars of pension insurance system
Belgrade,
30 January 2007
Serbian Assistant Minister of Labour, Employment and Social Policy Ljiljana Radifkovic said today that voluntary pension funds are one of the pillars of the system of pension insurance, and money obtained through them will be invested in the Serbian economy.
Speaking at a specialist seminar held at the Serbian Chamber of Commerce, Radifkovic voiced hope that voluntary pension funds in Serbia will take root in the right way. In addition to basic legislation, it is necessary to pass other by-laws to completely regulate this field.
She pointed out that the system of obligatory pension insurance which has existed in Serbia for decades is not entirely financially sustainable because at the moment the state subsidises 35% of funds necessary for regular payment of pensions.
The reasons for introducing voluntary pension funds and ways for managing them were presented to participants in the seminar, among whom were representatives of societies for managing voluntary pension funds approved by the National Bank of Serbia.
The seminar looked at the advantages of membership in these funds, criteria that should be taken into account when choosing a pension fund, membership and amount of contributions, the amount of pensions, as well as possible risks and ways to prevent them.
She pointed out that the system of obligatory pension insurance which has existed in Serbia for decades is not entirely financially sustainable because at the moment the state subsidises 35% of funds necessary for regular payment of pensions.
The reasons for introducing voluntary pension funds and ways for managing them were presented to participants in the seminar, among whom were representatives of societies for managing voluntary pension funds approved by the National Bank of Serbia.
The seminar looked at the advantages of membership in these funds, criteria that should be taken into account when choosing a pension fund, membership and amount of contributions, the amount of pensions, as well as possible risks and ways to prevent them.
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