Implementation of the new Law on PIO to be monitored in the next six Months?

February 6, 2018 11:45 AM

Prime Minister Fadil Novalic and Minister of Labor and Social Policy of the FBiH Vesko Drljaca attended the meeting with representatives of the Alliance of Association of Pensioners in the FBiH and the Federal Institute for Pension and Disability Insurance. They announced that the implementation of the new Law on PIO (the Law on Pension and Disability Insurance) will be monitored in the next six months. With this law were removed all the problems caused by the existing system, which, according to them, was unfair and unsustainable.

“The new law prescribes the liquidity of the pension fund for the next 20 to 30 years, because the fund will be moved to the budget, and the pension payment obligation is now guaranteed by the state, i.e. the FBiH. Pensioners do no have to worry about raising their pensions anymore since they now depend on the increase of gross domestic product and consumer price index,” noted Novalic.

“It was secured that the payment and the growth of pensions are not just some pre-election story and the thing depending on someone’s personal will, but the issue of mechanisms included in the Law on PIO,” said Novalic.

“Time will show that we made some significant progress in this segment. The law prescribes regular and extraordinary adjustment of pensions, but also the adjustment possibility for the lowest categories,” said Minister Drljaca.

Representatives of pensioners expressed their support for the law at the meeting once again, because pensions are now determined on the basis of paid contributions and working experience.



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