PIO fund

Serbia’s pension system under scrutiny: Academic Plenum warns future retirees face lower pensions

The Academic Plenum has highlighted a serious inconsistency in how pensions for future retirees are calculated in Serbia, stating that President Aleksandar Vučić focuses primarily on current pensioners while leaving future retirees to fend for themselves. According to the Plenum, the Pension and Disability Insurance Fund (PIO) formula calculates pensions based on the gross salary base (the net salary amount on which contributions were paid) and the average salary in Serbia. In the social security system, gross salary bases are…