Good News: Increase in Pensions in the Federation of Bosnia and Herzegovina

July 30, 2020 11:45 AM

The Government of the Federation of Bosnia and Herzegovina was acquainted on Wednesday with the act of the Federal Institute of Pension and Disability Insurance of July 28, 2020, which refers to increased pensions by 2.8 percent.

In accordance with Article 79 of the Law on Pension and Disability Insurance, the Federal Institute for Pension and Disability Insurance is in charge of adjusting pensions in the amount of 50 percent of the increase in consumer prices and 50 percent of the percentage of increase in the gross domestic product in the Federation of BiH in the previous year.

The Federal Pension and Disability Insurance Institute is approved to, in accordance with Article 78 of the Law on Pension and Disability Insurance, adjust the value of the general point according to the percentage increase of the average gross salary in the Federation of BiH in the previous year.

After applying this 4.5 percent adjustment percentage to the value of the general point of 14.5 BAM from 2019, the calculated value of the general point for 2020 will amount to 15.15 BAM. This conclusion enters into force on August 1, 2020 and does not refer to the time during which the state of the accident in the Federation of BiH lasted.

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