Keepin touch

Whether you have a question, comment, suggestion or any problem in the purview of the government, send us your message and we will try to respond as soon as possible. If your problem is not in our purview, we will forward your message to the relevant institution.

The Government of the Republic of Serbia

In the service of citizens

Amendments to the Law on voluntary pension funds soon to be debated

Belgrade, 20 April 2010

State Secretary of the Ministry of Finance Slobodan Ilic said that the Bill on changes and amendments to the Law on voluntary pension funds, which was adopted by the Serbian government, will have been submitted to the parliament for discussion by the end of the month.

Slobodan Ilic

Speaking at a conference dedicated to changes and amendments to this Law, Ilic voiced the hope that they will be adopted during the summer.

The main goal of the proposed changes and amendments is to encourage as many citizens as possible to start saving for their pensions as early as they can.

Ilic explained that users of the funds will be able to withdraw the accumulated funds at the age of 58, not 53, as it has been the case so far.

In order to ensure that the accumulated funds will be used for the right purpose, as addition to regular pensions and not for purchase of goods, the users will be able to withdraw 30% of funds from accounts at one time.

As far as pension funds are concerned, the proposed changes and amendments will allow them to invest into investment units of open investment funds that do business in Serbia, EU member states and OECD members.

This is in line with the Union’s directives and will significantly facilitate business operations of voluntary pension funds in Serbia, Ilic concluded.