The lowest pension in Republika Srpska entity will be 201,82 BAM for those beneficiaries who have up to 15 years of pensionable service. The RS government has on Thursday decided to set the minimum pension to be paid from this year. For 15 years of pensionable service and more, and less than 20 years, 242,21 BAM will be paid.
Pensions for 20 years of pensionable service and above and less than 30 years will amount to 282.57 BAM.
For 30 years of pensionable service and more, and less than 40 years, 322.97 BAM will be paid monthly, and pension for 40 years of pensionable service and more will amount to 403.71 BAM.
The Law on Pension and Disability Insurance stipulates that RS Government passes an act determining the amount of the minimum pension. Based on data from the Bureau of Statistics, the Board of Directors of the RS Pension and Disability Insurance Fund has determined that pensions earned through December 31, 2019 are adjusted from January 1, 2020, increasing by 3.11 percent.
The amounts of the minimum pension as of January 1, 2020 were determined by increasing the minimum pension amounts for December 2019 by the indicated percentage of pension adjustments. The implementation of this decision requires an additional 616,000 BAM per month, or about 7,392,000 BAM by the end of 2020.