The following insurants are entitled to old age pension in 2021:
- Aged 65 and above with at least 15 years of pensionable service
Having 45 years of pensionable service, regardless of age
- Aged 63 years and two months with at least 15 years of pensionable service
- Having 45 years of pensionable service, regardless of age
The abovementioned age limit goes down to insured persons who worked where is insurance service calculated with increased duration for their jobs allowing them to retire early.
The following insurants are entitled to early old age pension in 2021:
Men: Having 40 years of pensionable service and aged at least 59 years
Women: Having 39 years and four months of pensionable service and aged at least 58 years and four months
Early retirement pensions are permanently reduced by 0.34% for each missing month to the age of 65, with a reduction not exceeding 20,4%.
Insured persons who, on the basis of work in jobs where is the insurance service calculated with increased duration for their jobs, the age limit goes down, the reduction of the early retirement pension is calculated up to that reduced age.
CONDITIONS FOR AN AGE PENSION OF SPECIFIC INSURANCE CATEGORIES (2020-2022)
- Only the service years with paid contributions are recognized, so please check your M-4 form in a timely manner (web services). Service years and salary data listings can also be obtained in Fund offices free of charge with an identity card.
- If you meet the minimum pension conditions but your total pensionable service has not yet been settled, you will be given a provisional decision, and the final decision will be made once all contributions have been settled.
- If you worked abroad, including the former Yugoslav republics, the right to that part of pension will be determined in accordance with the respective country regulations.
- Regulations specify a two-month time period for making the decision.
- You can receive pension to your bank account, to your home address (for home address payments, the amount will be reduced by the amount of postal expenses), at the delivery post office counter (without payment-related costs), to the account of the institution where the user resides, to a foreign currency account (for users whose place of residence is outside the territory of the Republic of Serbia) and through authorized persons (authorization is valid for one year and it is renewable).
- The retiree should report each address change or any other relevant change to the Fund.
- An old age pension user may, without limitation, re-enter insurance (get re-employed) per work contract, service contract and/or author contract and receive pension.
- A pension user who has been performing work as a re-employed person or self-employed individual for at least 12 months is entitled to have his/her pension re-calculated.
- For self-employed individuals who have not settled all pension contributions, the pension amount is decreased by one third until all obligations have been settled. This also applies to farmers and individual contribution payers (pursuant to Article 15 of the Law on Pension and Disability Insurance).
- Farmers may request insurance suspension due to illness.
- Pension calculation includes all salaries received from 1 January 1970.