Pensions to be increased in the Next 4 Years?

April 15, 2017 1:00 PM

Extra 50 BAM as a New Year’s Gift to Pensioners from Municipality of Novi Grad SarajevoThe increase of pensions in the period of next four years could amount to about 12 %, as announced by the Prime Minister Fadil Novalic. A precondition for this growth of pensions is the adoption of the new law on pensions and disability insurances in the Parliament of FBiH.

According to him, in the upcoming sessions of the House of Representatives and House of Peoples of the Parliament of FBiH on the agenda will be the Law on pension fund, which underwent certain amendments in comparison to the proposal that was refused. These amendments refer to the assumed increase of pensions.

“We determined the new key for the growth of pensions. It is not the cost of living anymore, but the growth of gross domestic product (GDP) and consumer price index (CPI). Automatism is planned in the text of the law, thus every year in April will be taken these two indexes for the last year, and they will be mathematically processed and pensions will be adjusted to that calculation. In some future period, the growth of pensions will depend on the growth of GDP, or whether the overall situation will improve in general. To be honest, we are planning the annual GDP growth of 3.2 % in the upcoming period, so it can be said that the pension could be increased by around 12 % in the next 4 years,” stated Prime Minister Novalic.

In this way, he noted, will be prevented the increase of pensions on the basis of political decisions, thus the growth of pensions will not be used for political purposes.



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