Law on Pension and Disability Insurance specifies the following kinds of rights:
- in case of old age:
- right to old-age pension;
- right to early old-age pension;
- in case of disability – right to disability pension;
- in case of death:
- right to survivor pension;
- right to funeral expenses compensation;
- in case of physical damage caused by injury at work or professional illness – right to financial compensation for physical damage;
- in case of the need for help and care by another person – right to financial compensation for help and care by another person.
Insured persons whether employees, self-employed or farmers exercise their pension and disability insurance rights in the Pension and Disability Fund of Serbia and the Province Fund as the Fund’s organizational unit.
The procedure for exercising the pension and disability insurance rights is initiated at the client's request submitted to the appropriate branch, i.e. branch covering the place of last insurance or the client’s place of residence, if from termination of last insurance past 12 months, along with the accompanying documentation.
The Branch is also responsible for deciding on pension and disability insurance rights by applying social agreements concluded with the former SFRY republics.
The sector in the Directorate of the Fund in Belgrade and the sector in the Provincial Fund Directorate in Novi Sad, decides on pension and disability insurance rights through the application of international social agreements concluded with other countries, including the republics of the former SFRY.
The procedure for exercising the disability insurance rights is initiated by the Fund at the insurant’s request and based on the disability opinion given by the personal physician (Form 1).
The procedure for exercising the right to financial compensation for physical damage is initiated at the request of the insured person or user of old-age pension, early old-age pension or disability pension, with attached medical documentation.
The procedure for exercising the right to financial compensation for the help and care by another person is granted to the insurant and pension user who requires help and care in performing basic life activities due to the nature and severity of their illness. With request, the medical documentation is needed to be attached.
Change in the disability status (reassessment, follow-up), need for help and care by another person and physical damage, established by the final decision on disability pension grant is reviewed at the request of the insured person/user of rights or ex officio.
Within the Fund, in the first instance, the pension and disability insurance rights are decided on by the branch covering the insured person’s last place of employment/insurance. If the period between the termination of employment and the initiation of the exercise of rights procedure is longer than 12 months, the branch covering the applicant’s place of residence is in charge of the procedure.
Decision on pension and disability insurance rights according to international agreements is made by the Fund Directorate Sector Manager or Province Fund Sector Manager in the first instance, or by Branch Manager for former SFRY republics.
In the second instance, the decision on pension and disability insurance rights is made by the Fund Manager or the Province Fund Manager or the person appointed by such Manager.
TABULAR VIEW OF CONDITIONS (2016-2032)
Pension payments
Pension and financial compensations from pension and disability insurance are paid on checking account, on the account of institution where is user based, on foreign currency account (if user resides outside of Republic of Serbia) and through an authorized person.
Pension adjustment
Pension and financial compensations are adjusted from April 01 and October 01 in the current year based on statistical data to accommodate consumer prices in the Republic of Serbia in the last six months. April 01 pension adjustment may also include adjustment for GDP growth (if the calendar year actual GDP growth rate is above 4%, the pension is adjusted by the percentage corresponding to the sum of growth rate or consumer prices slump and percentage corresponding to the difference between actual GDP growth rate and the 4% rate.
From January 2020, pensions are adjusted for 5,4%.
Overall score
From January 2020, overall score validity which is an essential element in calculating the first pension is 814,01 dinars.
The overall score is adjusted in the manner prescribed for pension adjustment.
Rescript on the value of the overall score as of January 2020.