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The January pension will be increased by at least 4 percent, which would mean an additional 1,100 dinars in the example of the current average salary of 27,700 dinars. Pensions will increase linearly, by the same percentage, for all, regardless of the amount, and new subsequent changes will bring greater growth.
Pensions will grow in 2021 according to the Swiss formula, which means that the incomes of our senior citizens will adjust to 50 percent of inflation and 50 percent of average salary growth. What does this mean in practice for a total of 1.7 million pensioners in Serbia?
Therefore, the Swiss model, according to which pensions have grown this year, will also apply in 2021, and then a different adjustment is expected.
Finance Minister Siniša Mali has already stated that one of the topics of the meeting with IMF representatives in October will be the refinement of the Swiss model of pension growth.
And the goal is, as has been announced on several occasions, that the pension reaches 440 euros in 2025.
In this sense, there are several models according to which the calculation of pensions could be modified. One option, which economists have repeatedly mentioned, is to adjust pensions relative to their share of GDP, and the other is to adjust them relative to median wages. In translation, as the economy in Serbia and the median salary grow, so will the pensions.
Currently, around 1.7 million pensioners live in our country, among which the majority are from the category of salaried workers – 84.24 percent, followed by agricultural pensions – 10.12 percent, and the least of them are in the self-employed category – 5.63 percent.
You can read how much your pension will be and how to calculate it in the following LINK.
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